9:50 am Rupee Trade: The rupee is trading flat after seeing depreciation of 10 paise to 64.51 against the US dollar in opening at the interbank foreign exchange due to appreciation of the American currency overseas.
Yesterday, the rupee had gained further ground against the US currency and finished at a new two-month high of 64.41, appreciating by 9 paise after sustained dollar unwinding by exporters and corporates.
9:40 am Alkem Labs in focus: Alkem Laboratories share price rallied as much as 8.5 percent in morning after Motilal Oswal has upgraded its rating to buy from neutral on the stock, citing likely strong domestic business growth.
The research house has hiked its price target on the stock to Rs 2,500 per share (from Rs 1,950) as it expects domestic business to grow at 20 percent over the next three quarters.
9:31 am Buzzing: Share price of Genus Power Infrastructures gained further on the back of order win from EESL.
The company has won an order from EESL for supply of 13.5 lakh smart meters for the states of Haryana and Uttar Pradesh.
This tender was opened in October by EESL for the supply of 50 lakh smart meters where company emerged as L2 bidder.
Post this order, the total order book of the company stand at Rs 1226 crore. The company is expecting the supply to commence from Q1FY19.
9:25 am Order Win: Shares of Technofab Engineering has locked at 20 percent upper circuit on the back of order won worth Rs 281 crore.
The company has received new order in the domestic water sector valued at Rs 281 crore. The project is funded by Asian Development Bank.
This order gives a further impetus to the company’s standing in the water sector, soon after securing orders in Bhutan and Uganda, and recently completed projects in Tanzania and Zimbabwe, company said in press release.
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