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Add MphasiS, target price Rs 2740: Choice Equity

Updated at : 2024-02-05 13:45:03

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MphasiS Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 47590.25 Crore) operating in IT Software sector.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe.

CLSA maintained a buy rating on Tata Motors but raised the target price to Rs 1061 from Rs 955 earlier.

The blue-chip CSI300 Index tumbled as much as 2.1% to refresh a five-year low, while the Shanghai Composite Index slumped as much as 3.5%, after tumbling 6.2% last week.

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Shares of Mayank Cattle Food listed with a premium of 7.4% on the BSE SME platform on Monday. The stock debuted at Rs 116 as against an issue price of Rs 108. The IPO of Mayank Cattle was subscribed 8 times at close. The company operates a manufacturing facility with a production capacity of 22,896 MT per annum of maize oil and 45,792 MT per annum of maize cake. The global animal feed market is expected to grow at a CAGR of 3.3%.

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The long buildup is the occurrence of a long (buying) trend in the share market.

4 stocks closed crossing above VWAP on February 2

Updated at : 2024-02-05 13:45:03

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When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume.

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Short buildup means more people are expecting the prices to go down and creating short positions. In Monday’s trading session, five stocks witnessed a build of fresh short positions.

​And for many of the banks, the big boost to earnings which came out of improvement in asset quality given that most large banks including SBI now have net NPAs at 0.5-0.6% or lower, from next year that benefit also will not be there to add to the earnings.

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