Latest Stock Market News

The Relative Strength Index of the stock stood at 58.57 on Tuesday.

Breakdown below last three months range and RSI in sell mode.

The Employees Provident Fund Organisation (EPFO) has fixed the interest rate at 8.15% for financial year 2022-23 as per the sources quoted by news agency PTI. If this interest rate is finalised by the Central Board of Trustees (CBT), then there is hike in interest rate by 0.05%. The EPFO board is meeting for two days to decide the interest rate on EPF account.

A host of brokerage firms have initiated coverage on several stocks. They see a strong potential in these companies, with a targeted upside of up to 56%.

While investors have been dumping banking stocks, market data shows that FIIs ended up buying financial stocks worth about Rs 2,800 crore in the first fortnight of March.

"Stock Exchanges and Depositories are advised to make necessary amendments to the relevant bye-laws, rules and regulations, operational instructions, as the case may be, for the implementation of the above circular," the circular further said.

“The outlook for the Indian economy continues to remain strong and while markets have corrected somewhat in the short term, that is more of a consolidation in a long-term bull market and investors with a medium to long term view should use this as an opportunity to invest for the longer term,” says Pankaj Murarka

Hindustan Aeronautics Limited (HAL) stock is off its 52-week high of Rs 2,914 and may test this level again riding on current momentum. The stock is expected to gain up to Rs 674 per share, returning nearly 26% returns on the current market price. A host of technical and fundamental triggers could lead the uptick.

“On the weekly chart, the stock has given a breakout from a symmetrical triangle which is a bullish continuation sign. Stock is sailing above short to long term moving average across all the time frame, it echoes positive tone in short to long term time frame,” added Shah.

The stock quoted a 52-week high of Rs 608.65 and a 52-week low of Rs 380.95.