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As of 31-Mar-2023, promoters held 74.36 per cent stake in the company, while FIIs held 14.66 per cent and domestic institutional investors had 3.71 per cent.

Given a closing above its 200 DMA on daily charts after nearly 7 months. 5-7NMDC, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 32148.75 Crore) operating in Mining sector.% upside likely.

"Auto is making new highs as volumes are improving every month, commodity inflation is behind, and production issues are getting resolved. It only helped that Auto Index was among the worst performing indexes in FY22 and hence bounce back was also with a vengeance in FY23," Kashyap Javeri, Fund Manager, Emkay Investment Managers, said.

A total of 6,305 shares changed hands on the counter till 11:32AM (IST)

Closed at a 9-month high. Upside has more legsfrom hereon for a potential 100 point up move.

The stock quoted a 52-week high price of Rs 2864.35 and low of Rs 2002.5.

​People will try to improve their margins because that trajectory will continue. But let me get onto the longer-term narrative because we oftentimes get caught up in short-term narrative saying that there is a demand headwind, etc, which is a fact.

Our plans to build out a domestic business in fact were conceived during the pandemic. With the pandemic’s intensity having weakened considerably, we have accelerated our plans and formed a dedicated team to establish the business.

Each of the indices is making a new high for different reasons but one reason is common, strong household balance sheet and income growth for FY21 and FY22 is driving urban consumption strong.

This meant that while Nifty showed no vigor to push beyond 18660, thus leading to a turn lower, but bargain buying emerged as soon as dips turned substantial enough, thus avoiding major falls as well.