Latest Stock Market News

On the technical charts, the RSI of the stock stood at 53.76.

The decision is the latest sign of India’s growing appeal to international investors as the country’s economic growth outstrips peers, its geopolitical influence grows and global companies including Apple Inc. look for alternatives to China.

Short-term traders can look to buy the stock for a target of Rs 500 in the next 2 months, suggest experts.

"One of our core investment beliefs is that reversion-to-mean is nature’s law. To put simplistically - cycles do exist, almost everywhere. They vary in timing and frequency. Mid and small cap segments have gone through a long phase of underperformance as against their larger peers over the last few years. Midcaps demonstrate a higher vulnerability to the economic environment as well as market sentiments."

"There is also a list of largecap stocks which show a near-term upsidea lot of them are financials and a couple of them are auto. There is one stock, which is Apollo Hospitals, and that is the only outlier. Again, it is not when you are picking stocks on a bottom-up basis, you are not really talking of any sector preferences."

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

“The primary issue is for Rs 400 crore and out of this, we would be using Rs 115 crore for the future augmented working capital and Rs 133 crore with respect to retiring the existing debt. Apart from this Rs 400 crore primary issue, there is a OFS of about 8 million shares at a higher price band. This would be around Rs 240 crores and so the total issue size at the cap would be around Rs 640 crore.”

"The slowdown in IT spending has happened under situations where interest rates are much lower than what they are today. There are indications rates will go up further. The clear intention of the US Fed is to slow down the economy, create more unemployment so that inflationary pressures are controlled. In this scenario, expecting that IT services discretionary spending actually will pick up next year, is calling it too early and without any basis. "

India VIX was down by 2.81% from 11.13 to 10.81 levels in the previous trading session. Volatility fell and has been hovering at its lower band for the last six months.