Latest Stock Market News

The Nifty Auto index was trading 0.72 per cent down at 10373.1.

APL Apollo had in the past acquired a 200,000 MTPA tube manufacturing unit from Shankara in April 2019 for Rs 70 crore. Analysts noted that the company recovered its investment cost within three years, boosting overall return on capital employed. The plant also helped the company expand its South India sales.

Prima facie, the stock, which has a market cap of just Rs 34 lakh, appears to be a dud penny stock with minimal possible trading volumes.

The stock has broken out from a rectangle pattern. After making a recent high on 14 Jan 2022, it started correcting and halted near 250 levels which also coincide with strongdemand zone on the weekly chart.

The stock quoted a 52-week high price of Rs 442.95 and low of Rs 274.0.

ICICI Securities expects SEL to deliver 27% earnings CAGR in FY22E-FY24E driven by 16% revenue CAGR and improving mix pushing RoCE up by 400 bps to 17%.

A total of 5,989 shares changed hands on the counter till 12:07PM (IST).

“Over the next six months to one year, we are positive on the economy growing. We are looking at the economy facing stocks and betting on the green shoots. We have been buying HDFC Ltd. at lower levels. Among the midcaps, the two stocks we are advising clients to buy are Reddington and Kalpataru Power.”

The scheme proposes the amalgamation of Equitas Holdings into and with Equitas SFB and the dissolution without winding-up of the transferor company pursuant thereto, a filing said. The amalgamation between the two entities is subject to approvals from RBI, stock exchanges, Sebi as well as the National Company Law Tribunal (NCLT).

Chemplast Sanmar, incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 1187.55 Crore) operating in General sector.