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"Zomato’s target of reaching a double-digit contribution margin in the long term hinges on a rise in commissions from restaurants (we expect it to rise from 15 per cent in FY22 to nearly 17.5 per cent in FY31F) and charging higher customer delivery fees (we believe this would be difficult, and expect it to remain steady at 6 per cent)," it said.

“Traders will stare at the prospects of 17000 again, for the August expiry, but will fancy slim chances of recovery, should Monday volatility fail to penetrate 17600 and manage to pull back above 17720 which meets the internal trendline. Inability to do so will call for 17300 initially,” he added.

"Friday’s decent correction has validated our stance of staying light at higher levels and now, the way our key indices snapped their 8-days winning streak, it does not augur well for monthly expiry week. If we see some nervousness globally, we may see Nifty50 testing lower levels of 17,600-17,450," said Sameet Chavan of Angel One.

The Relative Strength Index of the stock stood at 88.57 on Monday.

Titagarh Wagons Ltd., incorporated in the year 1997, is a Small Cap company (having a market cap of Rs 1788.78 Crore) operating in Engineering sector.

Promoters held 59.4 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 25.16 per cent and 2.75 per cent, respectively.

After a strong July when the stock rose more than 24 per cent in July, and over 3 per cent so far in August suggests that the upward journey for the stock has started which could stretch it for the next couple of months.

A total of 3,947 shares changed hands on the counter till time (IST).

The stock is trading above 9, 20, 100 and 200-SMA averages. On the upside, Rs 550 is an immediate susceptible area; above this, we are expecting a long run-up towards Rs 600 levels. On the downside, Rs 420 is the critical level.

"Overall, India has good demand, so the consumption-based sector will prove beneficial for economic growth. Increasing government fillip to the sector of defence will prove beneficial for defence start-ups in the long run too. In the long run, increasing government support for the defence industry will be advantageous for defence start-ups as well."