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Dr Agarwal's Health Care raised 875.5 crore on Tuesday from 43 anchor investors, ahead of its IPO. The company sold 21.7 million shares at 402 apiece.
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When an index falls more than 20% from its 52-week high, it is considered to be in a bear market. The Sensex and Nifty are down nearly 13% from their highs.
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It expects corporate earnings to remain strong over the long run, supported by a robust growth backdrop, with policy interest rates likely settling around 5%, down from the current 6.5%. Paul said consumption-related sectors, IT services, real estate and select industrials will benefit from the government incentives to boost onshore manufacturing.
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