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Several S&P BSE Smallcap stocks, including Arvind, Kirloskar Industries, Waaree Renewable Technologies, AstraZeneca Pharma, Safari Industries, and KEI Industries, are approaching their 52-week high levels, indicating strong momentum and growth potential. According to data collated from Trendlyne on these companies, they exhibit stability, resilience, and reflect increasing demand for clean energy and quality travel products, as well as the ability to deliver innovative healthcare solutions and strong performance in the electrical cables and wires industry.

Several BSE Midcap stocks, including Max Financial Services, Supreme Industries, ICICI Securities, Polycab India, Indraprastha Gas, Tube Investments of India, Endurance Technologies, and Kansai Nerolac Paints, have recently crossed above their 200-day Simple Moving Average, indicating strong performance and potential for further growth. These developments showcase positive momentum and reinforce a bullish trend for the stocks, attracting investor attention.

The Indian rupee could surpass the INR80-per-dollar level by 2024 thanks to foreign inflows, said Jayesh Mehta, managing director at Bank of America Merrill Lynch. “In my view, inflows through Global Capability Centres (GCCs) will drive the rupee higher,” he said. “Even though merchandise exports will slow … foreign inflows through GCCs, remittances and lower crude prices should be able to cushion the impact and help the rupee”. However, Mehta warned the Reserve Bank of India would act to reduce volatility in the currency, should it arise.

The stock quoted a 52-week high price of Rs 2444.75 and low of Rs 1660.65.

As of 31-Mar-2023, promoters held 63.9 per cent stake in the company, while FIIs held 26.0 per cent and domestic institutional investors had 2.71 per cent.

Nine small-cap BSE-listed companies have reached their 52-week highs. The companies are in a diverse range of sectors, including packaged food, microfinance, breweries and distilleries, specialty chemicals, healthcare, industrial machinery, electrical equipment, and renewable energy generation. Investors need to consider factors such as financial performance, market trends, industry dynamics, and company strategies before making any investment decisions. Although past performance does not guarantee future results, these companies reaching their 52-week highs align with their resilience, innovation, and market opportunities.

A total of 583,234 shares changed hands on the counter till 01:49PM (IST)

The Relative Strength Index of the stock stood at 62.16 on Thursday.

Real estate and manufacturing sectors outperformed cyclical sectors in the first half of 2023 in India. The realty sector registered about 20% returns in January-June 2023, against negative results of 19% in the same period last year, with the residential segment recording significant sales and sales launches during the same period. The S&P BSE Capital Goods index rose 20% from June 2022, riding on the government’s focus on infrastructure and local manufacturing. Meanwhile, the power and oil and gas sectors saw almost no gains as the S&P BSE Power index dipped by 9%, while the S&P BSE Oil and Gas index saw a fall of over 10%.

I think we are at least four years away from demand and supply catching up. The reason being hotels are a brick-and-mortar business which take time to develop and from announcing a hotel to actually opening it to guests can be anywhere between four to seven years depending on how efficient the organisation is in developing the hotels. So, we have got a fair length of runway, four years at least.