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Texmaco may win a large order; Aarti Industries gains for sixth day: What kept dealers busy on Tuesday?

Texmaco may win a large order; Aarti Industries gains for sixth day: What kept dealers busy on Tuesday?

Texmaco may win a large order; Aarti Industries gains for sixth day: What kept dealers busy on Tuesday?
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By Nimesh Shah  Nov 1, 2022 3:59:09 PM IST (Published)

All eyes are now on the US Federal Reserve Meeting with a 75 basis point rate hike already priced in.

Shares of Texmaco Rail gained for the third straight day on Tuesday, ending 1 percent higher at Rs 49.60. The stock is also trading near its 52-week high of Rs 58.80.

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Sources within the dealing rooms tell CNBC-TV18 that the stock is gaining recently as FIIs have been big buyers off late.
The street is also expecting that the company may win a large order soon.
At a 10-Month High
Benchmark indices closed at their highest level in 10 months after closing with gains despite the underperformance of leading banking names.
The NSE Nifty 50 index closed above the 18,100 mark while the S&P BSE Sensex reclaimed the mark of 61,000 on Tuesday.
FII flows have been strong with both technology and financial names being well bid. Dealers indicate that upside resistance for the Nifty 50 index has shifted to levels of 18,300.
All eyes are now on the US Federal Reserve Meeting with a 75 basis point rate hike already priced in.
Besides Texmaco Rail, here are some other stocks that have been part of the dealing room chatter today:
Aarti Industries: Specialty chemicals company is rebounding from its 52-week low and ended higher on Tuesday for the sixth straight session. The stock has gained nearly 7 percent during this period. Dealers suggest that FIIs have been strong buyers in the stock off late.
AU Small Finance Bank: Another stock that has seen buying from FIIs and dealers are anticipating large delivery volumes on the stock for Tuesday's trading session. Shares gained for the third time in the last four days, rising 6 percent during this period.
Tata Steel: Shares recovered from the day's low but ended 0.3 percent lower on Tuesday after the company's September quarter results. Dealers suggest that foreign investors have sold shares of the company on Tuesday. The stock is also under pressure due to a downgrade from brokerage firm CLSA who also cut its price target to Rs 90 from Rs 110 earlier. The brokerage also cut its financial year 2023-25 EBITDA estimate by 18-25 percent on account of lower profitability.
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