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Hindustan Zinc shares surged 4% to Rs 532 as silver hit a fresh high, driven by a US Fed rate cut. The company, India's sole pure-play silver producer, benefits significantly from rising silver prices, which contribute substantially to its earnings and are expected to boost its valuation.
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Kaynes Technology India shares saw a rebound on Thursday after a sharp decline. Analysts at Nomura and Morgan Stanley maintain positive ratings, citing potential for growth and improved disclosures. The company faced scrutiny over accounting practices in its smart meters segment. Despite past challenges, future catalysts include working capital improvements and new business lines.
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British insurer Prudential offloaded a 4.5% stake in ICICI Prudential Asset Management for approximately $545 million ahead of its $1.2 billion IPO. Major investors, including Abu Dhabi Investment Authority and family offices, along with ICICI Bank, acquired these shares. The fund house's IPO will see Prudential selling a 10% stake, with proceeds slated for shareholders.
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