Latest Stock Market News

​Radhika Gupta, MD & CEO, Edelweiss Mutual Fund in a Twitter thread shared five thoughts about money that she would want her child to learn first.

On the technical charts, the RSI of the stock stood at 60.61.

The stock quoted a 52-week high price of Rs 54262.3 and a 52-week low of Rs 34968.6.

The Indian rupee opened higher at 82.45 against the US dollar, gaining 7 paise in early trade as global crude oil prices fell and domestic stocks trended positively. The dollar index gained 0.07% to 103.62. Brent crude futures fell 1.12% to USD 73.95 a barrel, while domestic stocks rose by 0.12%. However, FIIs were net sellers in the capital market on Friday. Experts predict that the rupee will range trade as the Reserve Bank protects one end while oil companies continue to buy US dollars at the other end.

I would be actually looking at buying this stock at some stage because this fall in the prices is actually something which I like. So let us see if it falls a bit further, comes another 10% down, then I would actually be a buyer rather than try to ignore the stock.

The stock traded at a P/E multiple of 21.18, while the price-to-book value ratio stood at 2.11.

The big companies are struggling to reinvest capital. There is not enough opportunities on the ground to leverage the cycle forward, which is, I think, given valuation spread, inability to invest capital into larger projects, they will tend to be a little, should I say, cash flow yield kind of valuations rather than growth valuations.

Promoters held 0.0 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 21.5 per cent and 1.58 per cent, respectively.

The Relative Strength Index of the stock stood at 58.37 on Monday.

The Indian automobile sector witnessed a broad-based rally in the past week with the 15-stock Nifty Auto index outperforming the broader Nifty50, and has given over 28% returns in the 12-month period. Aamar Deo Singh, Head Advisory at Angel One recommended investors book part profits and trail the balance as short-term indicators in Nifty50 are displaying fatigue at higher levels, and profit-booking is possible. Top brokerages, including BNP Paribas, JM Financials and LKP Securities, advise a stock-picking strategy to investors. The firms remain positive on the sector, with LKP, recommending Maruti Suzuki, M&M, Ashok Leyland, TVS Motor and Bajaj Auto stocks as their preferred picks.