According to the company, the acquisition is in order to increase the company’s renewable footprint and partially meeting its renewables purchase obligations of its distribution business.
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Citi lowered its target price for the stock from Rs 1,480 to Rs 1,405, expressing concerns about exclusivity and margins. The brokerage is closely watching potential downside catalysts over the next 90 days.
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The share price gained 80 percent in last one-year.
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According to Geojit, Farmers in Gujarat have sown crops across 289,981 ha as of Monday for the 2023-24 summer season, down 19.4% from 359,645 ha in the corresponding period of last year, according to the state agriculture department data.
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The new venture is expected to bring benefits of synergies of business with its existing range of small domestic appliances.
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Updater Services is flexing multiple levers for margin improvement such as enhancing its technological capabilities and through business development, Motilal Oswal has said
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