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Coming to the buildup of fresh short positions, When the stock prices move downward and open interest on the counter increases, it is taken as a sign of a long build-up. The signal is considered more reliable if the volume on the counter has also seen an increase as the stock price was declining.

Fed Chair Jerome Powell said the Fed is aware of the risks of keeping rates higher for too long and lowering them too late, bolstering expectations of a rate cut in early 2024.

“If you feel that the US economy is stabilising or rather there is a soft landing, then the whole economic atmosphere over there or rather all the IT companies, should see the positive benefits. Plus falling interest rates will obviously lift the valuation multiples also. FPI flows will be going into largecaps as small and midcaps cannot absorb those kinds of flows.”

This report includes performance comparison of aggregate alternative investment funds or AIF benchmarks including Category I and II equity funds that invest purely in unlisted securities belonging to vintage years fiscal 2013 to 2022, with corresponding public market equivalent (PME) values using the S&P BSE Sensex TRI.

ETMarkets focused solely on those with a market value exceeding Rs 20 crore as of November 2023 and having witnessed a price surge of over 100% in the fiscal year 2024 until the present date.

The stock traded at a P/E multiple of 55.11, while the price-to-book value ratio stood at 23.88.

The initial public offer (IPO) of Inox India was fully subscribed on the first day of bidding. The issue was booked 1.17x so far, driven by strong interest from retail and HNI investors.

The Relative Strength Index of the stock stood at 55.1 on Thursday.