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Tokyo stocks closed lower on Wednesday due to concerns of short-term overheating. The Nikkei 225 lost 0.25% with the Topix index slipping by 0.01%. Mizuho Securities stated that the decline was led by sales due to short-term overheating worries. Investors were cautious ahead of key US jobs data later this week, as traders wound down for the Independence Day holiday.

The Relative Strength Index (RSI) is a valuable tool for understanding the dynamics of stock movement, ranging from 0 to 100. ETMarkets recently handpicked 10 overbought stocks for analysis using the RSI, indicating the magnitude and speed of recent price movements.

The stock traded at a P/E multiple of 91.68, while the price-to-book value ratio stood at 14.26.

The Nifty Pharma index closed 0.45 per cent up at 13675.45.

Bharat Electronics, incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 90093.02 Crore) operating in Defence sector.

Gold futures on the MCX have gained 0.52% or Rs 304 per 10 grams on a month-to-date basis, Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities told ET Markets. They are up by 6.31% or Rs 3,468 on a year-to-date basis, he said. Meanwhile, silver futures have gained nearly by Rs 500 or 0.71% in value terms in July while they have added 1.66% or Rs 1,150 on a YTD basis, Gupta added

​So if we do see is when we actually really move to a transaction. We are not really dictated by a sort of clear target in our mind that this is what we have to achieve. It is more about the opportunity that we get to see in market.

The stock quoted a 52-week high price of Rs 405.2 and low of Rs 232.05.

The underperformance in the stock was because the Street saw limited earnings upgrade triggers and lower visibility on event-based triggers such as listing of Jio and/or Reliance Retail, besides concerns over high capex and resultant rising net debt.The initial euphoria around RIL’s foray into the financial services business also faded given the lack of visibility on the business roadmap ahead

Samvardhana Motherson has entered into a partnership with Honda Motor under which it will form an 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future and be fully prepared for next-generation products and technologies, SAMIL said in a regulatory filing to the stock exchanges on Tuesday