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Coforge's stock took off following impressive quarterly performance. The IT services company enjoyed an 86% increase in net profit alongside a 32% revenue boost. Analysts are upbeat, with several brokerages not only holding onto their buy ratings but also increasing target prices. The companys robust order book, paired with managements reassurances on growth, points to exciting opportunities on the horizon.
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Nifty paused its six-day winning streak, with analysts suggesting potential near-term drift towards 25,400 before resuming an upside trajectory. While banking stocks show vulnerability, Oil & Gas counters, especially Reliance Industries, offer resilience. Further unwinding in derivatives is anticipated, with FIIs actively covering shorts.
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News and Media
Signs of a nearing US-China trade deal sparked a broad market rally, boosting stocks, oil, and copper, while Treasuries and gold declined. Investors are anticipating a potential accord, with top negotiators reporting progress on contentious issues. This development is seen as a short-term risk-on cue, though sustainability hinges on fundamental backing.
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