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After the Reserve Bank of India decided to maintain its policy rates, banking stocks remained stable while stocks in rate-sensitive sectors such as automobiles and real estate faced profit booking. The reaction of the stock market was expected, with investors predicting no major surprises in the policy statement. Although the RBI Governor highlighted macroeconomic improvements, concerns about monsoon season and the potential impact of El-Nino conditions still linger. The central bank maintained a GDP growth forecast for FY24 of 6.5%.

The Indian equity markets today provide 3G, a better growth than our peer group, better governance than our peer group and more importantly, better commitment to environment than our peer group.

​The RSI value ranges between 0 and 100. Herein the StockEdge data takes into consideration the time period of 14 days to compute RSI.​

Nilesh Shah, MD of Kotak Mahindra Asset Management Company, compared RBI Governor Shaktikanta Das to opening batsman Sunil Gavaskar for standing without fear in front of a challenging global environment. The RBI is balancing growth and inflation, said Shah. The Indian market would be pleasantly surprised if GDP growth for FY24 came in line with RBI expectations of 6.5%, he added. Meanwhile, at the three-day meeting of RBI’s monetary policy committee, the decision was unanimously made to keep the policy rate unchanged at 6.50%.

The Relative Strength Index of the stock stood at 56.76 on Thursday.

​So that is why I do not think rural demand is going to be faltering or anything. It is unlikely. The other indicators which have been continuously being watched by Reserve Bank about the rural demand is also showing up positive signs.

Promoters held 62.4 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 6.53 per cent and 0.86 per cent, respectively.

The stock quoted a 52-week high price of Rs 3046.25 and a 52-week low of Rs 1458.7.

I think all three put together in terms of EPC project business, in terms of manufacturing and also in the development role in the green energy space, in addition to where we are already present in the fossil fuel sector as well as in the power sector, so this is going to be more of a supplementary addition to the business

A total of 560 shares changed hands on the counter till 12:30PM (IST)