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The public offer of Plaza Wires is seeing robust response from investors. The overall subscription stood at 17.23 times so far on the second day. The retail portion was booked a massive 80 times, followed by NIIs at 28.22 times. The QIB category was the least subscribed at 33%.

A total of 85,462 shares changed hands on the counter till 01:39PM (IST)

RSI or the relative strength index computes the ratio of the recent upward traction in the stock price movement relative to its absolute price movement.

In Q1FY24, the company reported a consolidated net profit of Rs 101 crore. It was down 96% from Rs 2,433 crore reported in the corresponding quarter of last year. Revenue from operations during the quarter also fell marginally to Rs 1,348 crore, compared with Rs 1,378 crore in the corresponding quarter last year. Revenues dropped 20% quarter-on-quarter.

A total of 5,031 shares changed hands on the counter till 12:02PM (IST).

On the technical charts, the 200-day moving average of the stock stood at Rs 874.71.

​And then post festival season, actually, we get to know which segment was actually delivering stronger growth. And especially for two wheelers, we have seen inventory correction leading towards the end of the calendar year and early next year as well.

“In terms of numbers, if we are able to stay in that 18,900-20,400 kind of a band till Diwali, we would have done very well for ourselves. But I do believe at some point of time, we could test 18,900 and possibly even 18,400-18,500. On an overall basis, one should be aggressively booking profits in midcaps and smallcaps."

Bharat Forge Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 50050.78 Crore) operating in Auto Ancillaries sector.

The stock traded at a P/E multiple of 186.16, while the price-to-book value ratio stood at 4.96.