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Lemon Tree Hotels, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 6064.65 Crore) operating in Tourism & Hospitality sector.

In the past, the stock failed to witness a strong follow-up move after such a gap-up rally and filled the positive gap subsequently with a gradual decline. The key technical indicators tested the overbought zone and in the absence of a follow-up move, they may reverse down.

From the Sensex pack, Kotak Mahindra Bank, Sun Pharma and Bajaj Finserv were the top gainers, rising about 1-4%. Nestle, SBI, NTPC, Bharti Airtel, and Tata Steel also opened with gains. On the flip side, TCS, Asian Paints, HDFC, ICICI Bank, HDFC Bank and IndusInd Bank saw some losses.

IndiGo remains focused on growth (>15% ASK growth in FY24, doubling the fleet by 2030) and internationalisation(increase ASK mix to 30% over next two years from 23% in 9MFY23).

Essentially special situation is any situation which is causing the company, some sort of a problem, right? But the problem is very unique, it is a unique situation that the company is going through and from our experience of managing this fund for about four years now, we have gathered that each of the special situations that a company faces can be categorised into one of the four buckets.

In the NSE list of stocks with a market cap of over Rs 1000 crore, six stocks crossed their previous five-year high value at the close on April 10.

Promoters held 66.13 per cent stake in the company as of 31-Dec-2022, while FIIs owned 7.86 per cent, DIIs 21.02 per cent.

"The winning streak continued for the sixth consecutive session on Monday, however, the traction was missing in key indices. This resulted in the formation of a neutral candlestick pattern on the daily chart known as Doji. The said pattern indicates some tentativeness and generally occurs after a sharp run-up or decline," Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel One Ltd said.

"This is likely to reverse in FY24 since India has the best growth potential in FY24. Even though Indian valuations are relatively expensive, they have turned reasonable now and in tune with the long-term premium enjoyed by India," said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

A shift toward less lax monetary policy would be tricky given the massive holdings of Japanese government bonds the BOJ has acquired as it sought to keep interest rates low and inject money into the economy.