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As of 31-Mar-2023, promoters held 68.68 per cent stake in the company, while FIIs held 8.41 per cent and domestic institutional investors had 6.82 per cent.

The Futures Short Position Scan conducted the previous day (July 13) suggests Aggressive New Short positions were taken on 5 Nifty50 stocks. This is a bearish indicator that shows the futures OI has increased while the price has decreased.

I think a couple of factors are really helping IT. One is the positioning. I think compared to the rest of the market over the past two months, IT was a sector that had been sold down and the valuation gap for the rest of the market had opened up.

The technology major reported a nearly 12% year-on-year (YoY) rise in consolidated net profit for the quarter ended June at Rs 2,870 crore. Consolidated revenue for the quarter increased by 6% YoY to Rs 22,831 crore.The bottomline was lower than the ET Now poll of Rs 3,040 crore, while the topline was largely in line with the expected revenue of Rs 22,870 crore

“After the big move in the Bank Nifty over the last few months, it is better to stick with the leading larger banks because they will be a bit insulated from this although their NIMs will also come under pressure. Also, in IT, headwinds are greater than tailwinds and I would not be too aggressive in IT stocks at this stage.”

The stock quoted a 52-week high of Rs 951.95 and a 52-week low of Rs 730.9.

Jindal Steel & Power, incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 65464.15 Crore) operating in Metals - Ferrous sector.

​They have now slightly reduced that deficit, but yes, I think the deficit is fairly large, that is number one.Number two, the Asian appetite for energy products, particularly crude oil, is absolutely robust, absolutely ravenous and China is going to be the driver of demand followed by India, of course, quite closely and very interestingly both China and India are very large buyers of Russian crude oil.

​ A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond.​

The reality is that in CY23 till date our market has rallied just ~6% while the other major indices have delivered far superior returns [Nasdaq 31%, Japan 27%, Taiwan 20%, S. Korea 18%, Germany 16%, US 16%, France 14%].