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Many stocks in the sector are trading at their lifetime highs with valuations touching 2x of book value
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Adani Total Gas, Magma Fincorp, Adani Enterprises, Adani Transmission, Hindustan Copper and Balaji Amines have gained over 140% YTD
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Nifty Metal, Nifty IT and Nifty Auto indices soared up to 2.5%
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The scrip settled 11.85% higher at Rs 59.95, while the benchmark BSE Sensex closed 272.21 points, or 0.56%, higher at 48949.76.
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On the BSE, 1,534 shares rose and 1,314 shares fell. A total of 147 shares were unchanged.
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Shares of the company have jumped 182% to Rs 5,319 on May 5 from Rs 1,887.30 on August 17, 2020.
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The best is ahead as Tata Steel is a preferred ferrous proxy. Strong cash flow generation aids balance sheet deleveraging
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MACD is a lagging indicator and is made using two exponential moving averages
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ICICI Securities highlighted that the announcement is positive for small finance banks like Equitas, AU Small Finance Bank, Ujjivan.
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Benchmark Indian equity indices opened on a positive note tracking Asain peers which were up on the back of U.S. stocks rebounded on Wednesday as strong earnings results and economic optimism. However, weekly options expiry might keep trading volatile. In opening trade, Sensex rose 166 points or 0.34% at 48,844; while the broader market index […]