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Shares of Oracle Financial Services Software (OFSS) rallied over sharply after parent Oracles U.S. stock soared on a blockbuster cloud forecast. Oracles multi-billion-dollar client wins and aggressive expansion in multi-cloud services boosted optimism that OFSS will benefit from higher license and cloud revenue growth.
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Infosys shares experienced a 2% surge, reaching Rs 1,535 on the BSE, ahead of its fifth share buyback meeting. Historically, Infosys shares have generally risen following buyback announcements. Market experts suggest that current valuations are more appealing, with the stock consolidating at lower levels.
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Adani Power's stock is rising. This is due to a new hydroelectric project in Bhutan and the company's first stock split. Adani Power signed an agreement with Druk Green Power Corp for the Bhutan project. The stock split aims to improve liquidity. GST reforms are also expected to boost Adani Power's margins. Technical indicators suggest short-term strength for the stock.
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