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ICICI Securities shares rose 15% on Monday as news emerged of ICICI Bank, its parent company, considering delisting it. ICICI Bank said its board of directors would consider the proposal on June 29th in accordance with Sebi (Delisting) regulations. The bank holds a 74.85% stake in ICICI Securities.

“Insurance is one of the most interesting segments in the long term. Over the last two to three years, insurance stocks have underperformed – be it life insurance or general insurance companies. In the long term, both life as well as general insurance companies have a lot of scope for consistent and steady returns. ”

Escorts Kubota, incorporated in the year 1944, is a Mid Cap company (having a market cap of Rs 24057.13 Crore) operating in Auto sector.

The Nifty Pharma index was trading 0.91 per cent up at 13306.05.

A total of 2,127 shares changed hands on the counter till 10:41AM (IST)

India’s IT stocks are being shunned by institutional investors despite the fact some are up to 25% below their 52-week peak levels. The Nifty IT Index is still trading at a 10% premium compared to its 10-year average valuations, with the likes of IT giants TCS, Infosys, HCL Tech, Wipro and Tech Mahindra still trading above pre-Covid valuation levels. Midcap IT stocks are trading at a 25% premium compared to large caps. Hemant Kapasi, head of equities at Sanctum Wealth, said the IT industry may experience a time correction over the next few quarters rather than a significant correction in valuations.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

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. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock.

Five Indian stocks including Punjab National Bank, Hindustan Aeronautics, L&T Finance Holdings and RBL Bank have been banned from trade on 26 June 2023 due to their futures and options contracts surpassing open interest caps. The ban reverses when open interest falls below 80%. The ban does not impact those who trade in index. On Friday, Indian indices the S&P BSE Sensex and Nifty50 finished with declines, while Nifty Bank ended lower by 0.23% at 43,622.90. Technical Analyst Rajesh Bhosale advised that investors should consider buying opportunities after any short-term corrections.

The Investor Education and Protection Fund Authority (IEPFA), under the corporate affairs ministry, is also planning to ease the process for investors to get the unclaimed shares and dividends, the official told ET, adding that this will curtail the requirement of certain superfluous documentations.