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Ajanta Pharma, incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 15546.07 Crore) operating in Pharmaceuticals sector.

He said that his feeling was that while the Fed will be showing the stick by raising interest rates and tightening liquidity, hoping that this will curb the demand, it will continue to provide liquidity, hoping that SVB kind of accidents does not occur.

The Relative Strength Index of the stock stood at 37.63 on Monday.

The stock quoted a 52-week high price of Rs 2916.85 and a 52-week low of Rs 1988.6.

Breakdown from a “Bearish Flag and Pole” pattern, rise in OI reaffirms bearish momentum.

The global financial markets are in a state of flux after Silicon Valley Bank collapsed, leading to a bailout for depositors and reassurance to current borrowers. This bailout happened the right way and it had to happen because otherwise the domino effect would have been there. Effectively, they have bailed out all the depositors and they have said that all other depositors in all other banks should consider their deposits as safe.

As of 31-Dec-2022, promoters held 63.21 per cent stake in the company, while FIIs held 24.04 per cent and domestic institutional investors had 3.83 per cent.

The brokerage continues to maintain REDUCE rating on TechM because it believe that the company has room for improving its digital capabilities and in order to revive growth it will have to invest in building digital capabilities.

Citi maintained a Neutral rating on Tech Mahindra with a target price of Rs 1,120. The brokerage firm said that it expects a favourable stock price reaction with the appointment of Mohit Joshi.

"We have been buying the recent market decline because I do not see any huge downside. If the entire Silicon Valley Bank fiasco had spilled over, then obviously that strategy would not have worked but looking at the Indian equity market, the overall valuation correction that has happened and the growth paradigm that exists, I would say we are reasonably well placed."