The stock after hitting the 52-week high last year fell nearly 50 per cent and took support above Rs 1,561 on 20th June before reversing losses. It has rallied more than 12 per cent since then.
Tata Motors has launched a €14.1-per-share cash tender offer for Iveco Group, valuing the Italian commercial vehicle maker at €3.82 billion. Backed by Iveco’s largest
Kotak Securities estimates ITC’s tobacco business is valued at just 11X forward earnings, suggesting potential undervaluation. The brokerage sees stronger growth in non-tobacco businesses and
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