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On the technical charts, the RSI of the stock stood at 37.57.

The stock traded at a P/E multiple of 128.46, while the price-to-book value ratio stood at 15.76.

Shares of defense PSU Mazagon Dock Shipbuilders are in focus today, as the company has set September 19 as the record date for determining shareholder eligibility for dividend payments. Consequently, today is the last opportunity to purchase shares to qualify for the announced dividend of Rs 12.11 per share, which was declared earlier in May for the financial year 2023-24.

The Indian market is expected to rise on Wednesday, influenced by positive global trends. Nifty futures closed positively at 25,448 levels on Tuesday. Options data suggests a broader trading range between 25,000 to 25,800 zones. Analysts recommend holding above 25,350 for an upward move towards 25,550 and 25,750 zones.

Overall one can play the positive to range bound stance and expect an up move towards 25600-25750 zones.

CLSA maintains an underperform rating on Bajaj Auto with a target price of Rs 7,000. The recent launch of entry-level motorcycles by Bajaj and Triumph, particularly the Speed T4, is seen as promising. However, caution is warranted due to rising competition in the premium segment, moderated growth in the over-250cc category, and ongoing pressure in key export markets.

Indian markets have shown resilience, with Sensex and NIFTY 50 recording positive returns since 2015. Despite challenges like the COVID-19 pandemic and foreign investor outflows, strong earnings growth and domestic capital have driven the market. However, high valuations and potential risks like slower earnings growth and political instability could impact future performance.

On September 17, eight stocks from the Nifty500 pack appeared in the RSI Trending Up scan, according to the stockedge.com data.