Independent market expert AmbareeshBaliga started to expect a level of Rupees 225-240 for the Greaves Cotton stock. "The E.V. mobility business of Greaves Cotton has been growing at about 38 ℅. That is where the new investment would be coming in, which is extremely positive. Looking at the small engine business, we have seen outstanding growth even there. Overall, they are firing on all cylinders. So I don't think there is any space to worry about Greaves Cotton's concern," Was said by him.
Sensex and Nifty50 near Day's highs led by Reliance, I.T. stocks. In which Reliance hits a one-month closing high gives Nifty a 68-point lift. Macquarie's positive note on Tier I IT companies leads to 2℅ in Nifty I.T. Two-wheelers remain under pressure on weak May sales -- Hero MotoCorp falls 3℅.
Ashok Leyland rises three percent, extending gains to the second straight Day on solid monthly sales. And lastly, O.N.G.C., Oil India rise despite the fall in crude oil.
The Financial stocks keep market gains in check -- H.D.F.C., H.D.F.C. Bank, and I.C.I.C.I. Bank are the principal laggards. The stock of Apollo Hospitals continues to fall amid concerns about Apollo 24/7. L&T Tech, Abbott, L&T Infotech, Berger, and L&T Finance are top midcap gainers. Top midcap losers include info Edge, I.G.L., Navin Fluorine, Colgate, Astral, and Zydus Life. Market breadth favors bulls, the advance-decline ratio at 2:1.