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Fertilizer and agrochemical stocks surged, fueled by robust Q1 results from companies like Paradeep Phosphates and Mangalore Chemicals & Fertilisers. A resurgence in demand post-COVID and promising monsoon forecasts, exceeding normal levels by 6%, further bolstered investor confidence. Several companies have witnessed substantial gains in recent months, driven by import replacement opportunities.
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China's trade negotiator said both sides agreed to push to preserve a trade war truce.
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M&B Engineering plans to raise 650 crore through an IPO, including a fresh issue and offer for sale, to fund expansion and debt repayment. The company, known for its AISC-certified PEB facility and higher margins, will see promoter stake decrease post-IPO.
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