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The Japanese currency had fallen more than 0.5% on Friday after the BOJ maintained ultra-low interest rates, while Governor Ueda stressed the need to spend more time assessing data before raising interest rates.

“When you are looking at a stock SIP, before making the investment itself, you are very clear that you want to build a particular amount of investment in that particular stock or company and because you do not have the money upfront or you want to spread out the risk.”

On the technical charts, the 200-day moving average of the stock stood at Rs 132.58.

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The Relative Strength Index of the stock stood at 65.86 on Monday.

A total of 6,554 shares changed hands on the counter till 02:00PM (IST)

The stock traded at a P/E multiple of 31.37, while the price-to-book value ratio stood at 5.14.

As of 30-Jun-2023, promoters held 0.0 per cent stake in the company, while FIIs held 15.43 per cent and domestic institutional investors had 4.39 per cent.

Aditya Agarwala of Invest4edu believes that the market is ready for an upward movement. He recommends going long on Tata Consumer and Apollo Hospital, as they have both broken out from consolidation phases. Agarwala also suggests going long on the Bank Nifty, which he believes can test levels of 44,800 to 45,000 on the upside. Additionally, he highlights the potential of MCX and CDSL as stocks to watch.