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Jay Thakkar says: “21,400 and thereafter 21,300 are the two crucial support levels for Nifty and if those levels are held, the probability of Nifty making a life high this week is quite high. 21,500 is an immediate resistance. It really needs to take off those levels, otherwise what will happen is Nifty may just consolidate this week within a price band of 21,300 to 21,600.”

A total of 15,437 shares changed hands on the counter till 02:00PM (IST)

Motisons Jewellers is a hyperlocal jewellery retail chain, headquartered in Jaipur with 4 showrooms. The company primarily sources finished jewellery from third-party suppliers across India and its business involves the sale of jewellery made of gold, diamond, kundan etc.

JBCP’s long term growth drivers remain intact led by 1) geographical expansion of legacy brands 2) improvement in MR productivity 3) scale-up in acquired portfolio 4) launch of new products & therapies 5) rise of contract manufacturing business and 6) improvement in FCF generation.

Sunil Subramaniam says: “I am optimistic that not only will the festival season numbers reflect well, the guidance in January for the next few months will also be good. The last two summers have been disappointing from a consumer discretionary perspective; hopefully this time around with the election around the consumer discretionary story will also step-up during summer.”

A long buildup is when there is a rise in open interest and volumes along with an increase in the price of the underlying stock in the Futures and Options segment.

The Relative Strength Index of the stock stood at 53.59 on Tuesday.

We remain positive on SIEM from a long-term perspective given 1) its strong and diversified presence across industries through focus on electrification, digitalization & automation, 2) product localization, 3) strong balance sheet, 4) healthy public & private capex and 5) focus on cost efficiencies. The stock is currently trading at a PE of 63.0x/54.5x SY24/25E valuing it at PE of 60x SY25E (same as earlier).

Promoters held 0.0 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 22.37 per cent and 15.54 per cent, respectively.