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JSW Paints and a consortium of Advent International and Indigo Paints are vying to acquire Akzo Nobel India, the owner of Dulux Paints, as Akzo Nobel NV seeks to exit the Indian market amidst intense competition. Pidilite Industries is also interested, primarily in Akzo's decorative business.
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Sun Pharma is expected to post a 9% year-on-year revenue growth, supported by its US specialty portfolio and steady growth in chronic therapies in India.
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The Nifty IT index shot up 4.3% - posting its biggest single-day gain in 10 months. HCL surged 7.74%, followed by Coforge, Oracle Financial Services Software, LTI Mindtree and MPhasis, which ended 5-6.4% higher. The surge in IT stocks helped the benchmark Nifty close 0.67% higher on Wednesday.
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