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On the technical charts, the RSI of the stock stood at 54.07.

Promoters held 30.3 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 15.08 per cent and 25.34 per cent, respectively.

Market Expert VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, explains FII optimism in the quarter. According to him, FIIs were drawn to metal stocks due to their relatively lower valuations compared to the broader market trend. He notes that FII investment has been influenced by volatile metal prices.

The stock traded at a P/E multiple of 7.94, while the price-to-book value ratio stood at 1.26.

A total of 1,578 shares changed hands on the counter till 12:58PM (IST).

Oil prices increased amid concerns about the Gaza conflict escalating regionally. Brent and U.S. crude futures rose as fighting between Hezbollah and Israel intensified, potentially impacting oil supplies. An optimistic economic outlook fueled by anticipated U.S. interest rate cuts also contributed to the price surge, while the U.S. bolstered its Strategic Petroleum Reserve.

​Lot of sectors are dependent on the rural sector and with the monsoon season this year being good and the upcoming festive season, we believe that could lead to a big demand for a whole host of sectors including the consumers, the durables, the automobiles, the agri-related sectors and that should kind of drive the earnings growth for the remaining part of the year.

Last week, the Nifty index exhibited a choppy but positive trend, with potential gains towards 25,100-25,200. Analysts noted important support levels and recommended buying opportunities during minor dips. Stocks such as ICICI Bank, Nykaa, Sun Pharma, and Bajaj Auto showed positive momentum. Investors were advised to cautiously maintain and seek long positions.

The Reserve Bank of India has decided to offer early redemptions for 30 Sovereign Gold Bond series maturing from October 2024 to March 2025. Investors can choose to withdraw early starting September 2024. Financial experts advise against early redemption to maximize benefits, as past bond holders earned an average return of 10.94%.