Indian benchmark indices Sensex and Nifty closed higher on Tuesday, with Sensex gaining 0.25% to reach 63,323 and Nifty advancing 61 points to close at 18,816.70. All Nifty sectoral indices, other than pharma and media, ended in the green alongside broader markets. Global concerns were amplified as China cut interest rates, and investors await Powell s testimony to the US Fed in its July meeting, but the market was led by IT and Auto stocks uptrend and increased fag-end buying in power and utilities shares.
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Jamna Auto Industries Limited announced that the Compensation Committee of the Board of Directors of the Company in its meeting held on March 25th, 2023 has allotted 2,09,000 fully paid equity shares of the Company under ESOP 2017 plan to the eligible employees of the Company, via an exchange filing.
Going ahead most analysts have mixed views on the space. While the pent-up demand is fading and the sector is facing rising interest rates and further price hikes expected the export; However, margin improvement is expected due to a decrease in commodity prices and price hikes.
JM Financial has initiated coverage on Go Fashion, saying the company is the leader (value market share of 8 per cent) in India’s highly unorganised women’s bottom-wear segment that is pegged at Rs 13,500 crore