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Recently, the stock gave a breakout from Ascending Triangle pattern, as well as the consolidation zone from 2007-2022 on the monthly charts adding to the bullish bias. Short-term traders can look to buy the stock for a target of Rs 130-165 in the next 6 months, which translates into an upside of about 50% from Rs 87 recorded on December 6.

The company has appointed investment banks Jefferies and Kotak to manage the deal, said the sources, declining to be identified as a deal is likely to be launched in stock markets this week.

In this complex world with both push and pull factors at play, the rate of the Indian rupee, which is market-determined, should be allowed to find its level, and that is what we have been striving to ensure, he said while asking investors to make an objective assessment of the movement of the INR in the context of global and domestic macroeconomic and financial market developments.

The stock quoted a 52-week high of Rs 440.75 and a 52-week low of Rs 206.1.

J B Chemicals & Pharmaceuticals, incorporated in the year 1976, is a Mid Cap company (having a market cap of Rs 15726.17 Crore) operating in Pharmaceuticals sector.

A total of 319,251 shares changed hands on the counter till time (IST).

The death cross is a technical indicator of bearishness. The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its long-term moving average on the downside.

I think we keep getting this kind of block deals in the market and no doubt the size over here is a bit higher. But I think if the pricing is good there is enough appetite amongst the institutional investors and also some of the HNIs.

A total of 270,415 shares changed hands on the counter till 10:51AM (IST).

Larsen & Toubro, incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 294167.15 Crore) operating in Construction sector.