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Power Mech Projects on Monday said it has bagged two orders worth Rs 725.17 crore. In a regulatory filing the company said it has received letters of intent for two orders worth Rs 725.17 crore.

A total of 247,553 shares changed hands on the counter till 01:57PM (IST)

“When an online company is saying they will need a lot of branches to sell, they are also giving us the message that insurance cannot be purely sold online. ”

“Among infra and capital goods companies betting on L&T, Thermax and NCC.”

Astha Jain, Senior Research Analyst, Hem Securities, suggested investors book profits and sell about 70-75 per cent of their holdings. "It is better to take some profits off the table after such listings and hold the remaining portion for a longer period," she added.

The stock quoted a 52-week high of Rs 152.6 and a 52-week low of Rs 87.3.

Balkrishna Industries Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 46002.73 Crore) operating in Tyres sector.

As of 30-Sep-2021, promoters held 0.0 per cent stake in the company, while FIIs held 41.47 per cent and domestic institutional investors had 30.77 per cent.

On the technical charts, the 200-day moving average of the stock stood at Rs 577.87.

Vishal Balabhadruni, BFSI Analyst, CapitalVia Global Research, said the issue seemed to be good for the short term or listing gains but long-term investors must be cautious.