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Is Now the Right Time to Invest in Multibagger Praveg Stock as it Trades at a 30% Discount from Recent Peak? Get Live Updates on Today’s Market News – August 28, 2024

The stock market is always buzzing with activity, and staying updated with the latest news and trends is crucial for investors. Today’s market wrap-up provides a comprehensive overview of the Nifty 50 and Sensex movements, top gainers and losers, as well as insights into how Asian and US markets performed. Additionally, this blog covers the sectors that led the charge or declined, giving readers a holistic view of the market landscape.

One of the key highlights of today’s market news is the coverage initiated by Monarch Networth Capital on the Praveg stock. With a target price of ₹1,130, signaling an upside potential of 26%, investors are presented with an opportunity to consider investing in this multibagger stock that is currently trading at a 30% discount from its recent peak.

In the IPO segment, Premier Energies‘ IPO has garnered strong interest, being oversubscribed by 3.06 times, with non-institutional investors taking the lead. The company, with 29 years of experience and substantial capacity, has received positive ratings from brokerages, making it an attractive option for potential investors.

Another IPO that made headlines today is QVC Exports, which saw a bumper subscription and a solid debut on the NSE SME platform. Opening at ₹161, an 87.21% premium over the issue price, the stock later hit its 5% lower price band, showcasing the volatility and excitement surrounding IPOs in the market.

On the stock front, companies like Trent, Torrent Pharmaceuticals, Infosys, Abbott India, and Sun Pharmaceutical Industries hit their 52-week high today, indicating strong performance and investor confidence in these stocks. Conversely, shares like Forcas Studio, Solve Plastic Products, Interarch Building Products, Kataria Industries, and Modefence Etf hit their 52-week low, reflecting the challenges faced by these companies.

In the commodity segment, gold prices fell below ₹72,000 per 10 grams, as the dollar rose and investors awaited a key US inflation report for more clarity on a likely September rate cut by the US Federal Reserve. Analysts suggest buying on dips, highlighting the potential for a rebound in gold prices.

Overall, today’s market news provides a comprehensive overview of the latest developments in the stock market, IPOs, commodity prices, and stock recommendations. Investors can stay informed and make well-informed decisions by following Mint’s market blog for real-time updates on their favorite companies and all things related to Dalal Street and global markets.

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