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Brigade Hotel Ventures' Rs 759.6 crore IPO saw 1.18 times subscription on its second day, driven by retail and NII interest. The IPO, priced at Rs 85-90, features expansion plans to 14 hotels by FY29. Despite premium assets and brand partnerships, analysts are divided due to high valuations, suggesting limited near-term gains.
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Amid market declines, Sneha Seth from Angel One notes key support levels for Nifty and Bank Nifty, emphasizing stock-specific opportunities. She suggests watching for a Nifty close above 24,900 for a potential rebound. Seth recommends a buy on Dr. Reddy's with a target of 1,324 and a sell on IndusInd Bank targeting 797, highlighting pharma's resilience during corrections.
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Supermarkets sold more drinks and fuel sales were up as people "ventured out", the UK statistics body says.
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