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The movement is a 24-hour economic blackout where consumers are not supposed to buy from corporations, avoid all nonessential purchases and if necessary, only shop at local businesses.
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The reason for valuations to be at this level is because corporate balance sheets are in the best of health and the debt-to-equity is at the lowest historical levels of 0.55, while companies' capacity utilisation is at 80%, he said.
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India's largest cement company has plans to invest 1,800 crore over the next two years, and the plant is expected to be commissioned by December 2026. UltraTech shares ended 5% lower on Thursday.
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