Latest Stock Market News

Several auto industry stocks are approaching their 52-week highs, leading investors to consider potential investment opportunities. MRF, Mahindra & Mahindra, Tata Motors, Maruti Suzuki, Tube Investments of India, TVS Motor Company, Ashok Leyland, and Bajaj Auto are among the companies highlighted, with each stock displaying positive market sentiment and potential for growth. For example, MRF is currently trading near its 52-week high of Rs 100,849.60, while Mahindra & Mahindra is nearing its 52-week high of Rs 1,422.80.

Investors need to understand that market corrections are a part of every cycle and can be stressful. The cause of volatility in the market can be due to economic and geopolitical factors or investor sentiment. Investing for the long term, diversification of the portfolio, rebalancing the portfolio, investing in quality companies, accumulating at lower valuations, having cash, and staying calm can help investors navigate the volatility of the markets. It is also advisable to stay informed about the developments in the market and engage an investment advisor, if necessary.

Investors may consider investing in companies trading near their 52-week lows to buy stocks at lower prices. The top 10 Nifty 500 companies currently trading near their 52-week lows include Aavas Financiers, City Union Bank, Jamna Auto Industries, Sunteck Realty, and Tamilnad Mercantile Bank. These companies offer potential investment opportunities in various sectors such as housing finance, banking, real estate, and manufacturing. However, investors must conduct thorough research and analysis before making any investment decisions and consider their risk tolerance.

​All these companies are really going to benefit a lot and I do not yet think the prices have captured that fully. As you continue again, our old theme, the financials are at the centre of everything.

The stock traded at a P/E multiple of 92.62, while the price-to-book value ratio stood at 14.26.

On the technical charts, the RSI of the stock stood at 54.33.

A total of 34,855 shares changed hands on the counter till 02:10PM (IST).

As foreign institutional investors (FIIs) turn net buyers of equities in the Indian market, we take a look at stocks that have seen the highest change in FII holdings over the past quarter.

As of 31-Mar-2023, promoters held 63.21 per cent stake in the company, while FIIs held 23.72 per cent and domestic institutional investors had 3.88 per cent.

Franklin Templeton Asset Management sold 0.1% of its stake in LIC, while Union Mutual Fund divested its entire holding?in May. Mutual funds were sellers in PSU stocks of Indian Oil Corporation and Hindustan Aeronautics, while stocks of Avenue Supermarts gave negative returns of over 1%. Leading mutual funds such as Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund, and Kotak Mahindra Mutual Fund sold largecap, midcap and smallcap stocks in May. Recommendations, suggestions, views and opinions given by the experts are their own.