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The stock traded at a P/E multiple of 37.61, while the price-to-book value ratio stood at 5.03.

CLSA, a global brokerage firm, has removed Eicher Motors from its India Focus Portfolio due to 7.6 ppt underperformance. The portfolio has outperformed the Nifty in all 10 quarters since its inception, beating it by a total of 77.7ppts. Banks and energy have the highest importance in the portfolio, each with a weightage of 25%, while the remaining 50% is divided equally among IT, NBFC, materials, utilities, healthcare, and industrials.

ETMarkets conducted an analysis of Tata Group companies that have demonstrated sales and profit growth exceeding 20% in FY23 as compared to FY22, and these companies have also experienced price gains of over 20% in FY24 thus far

The share allotment of SBFC Finance will likely be finalised on August 10. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar.

While leaving the repo rate unchanged at 6.50% and retaining the policy stance of staying focussed on the withdrawal of accommodation came as no surprise to the market, RBI’s sharp hike in inflation estimate and the imposition of incremental Cash Reserve Ratio of 10% on banks took Dalal Street bulls off guard.

"The market was supported by stocks that reported strong results. The first-quarter corporate earnings season overall was very strong," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

A total of 6,353 shares changed hands on the counter till 12:54PM (IST).

An interesting thing to note is the section that is attracting retail money the most on Dalal Street. Retail investors are overwhelmingly present in mid-and small-cap stocks, a segment that risk-taking institutional investors typically stay away from. As of June end, the top 10 companies where retail holding was the highest are Ujaas Energy, Sintex Plastics, Visagar Polytex, Antarctica, Vikas Lifecare, Urja Global, MPS Infotecnics, Ortin Laboratories, Rolta India, Reliance Capital.

As of 30-Jun-2023, promoters held 63.97 per cent stake in the company, while FIIs held 12.29 per cent and domestic institutional investors had 9.82 per cent.

This article delves into the concept of overbought stocks and their implications in the market. Highlighting data from a recent screener, we explore 10 stocks that are currently trading in the overbought zone, shedding light on the significance of the Relative Strength Index (RSI) as a valuable tool for assessing stock movements.