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Tracking the momentum, the stock hit a fresh 52-week high of Rs 450 on April 12, 2023. Short- or medium-term traders can look at buying the stock now or on dips for a possible target above Rs 600 in the next 6 months, suggest experts.

A total of 7,492 shares changed hands on the counter till 12:24PM (IST)

The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban.

The reappointment of MD & CEO removes a key overhang and the next milestone to look forward to would be the progress on the universal banking license, which the bank is now likely to apply for.

SBI MF’s prominent additions during March were HDFC AMC and Kotak Mahindra Bank while its major reductions included Reliance Industries and State Bank of India.

U.S. Consumer Price Index (CPI) climbed 0.1% last month after advancing 0.4% in February. Economists polled by Reuters had forecast the CPI gaining 0.2% in March.

I think this is a sector which has underperformed quite considerably for a fairly long period of time. So now the time is coming. The API market in the US seems to have stabilized and has started to do quite well so I think most of the API players in India will do quite well as well.

The Relative Strength Index of the stock stood at 74.47 on Thursday.

Stocks that have given stellar returns this year include Finolex Cables, Cigniti Technologies, Jindal Saw, Sonata Software, Sterling Tools, Nucleus Software Exports, Shilchar Technologies, and Goyal Aluminiums. These stocks have risen 50-85%.

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