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Despite the recovery in the broader market, the primary space has been out of favour for a while and there is not much buzz of more issues hitting the street in the near term either.

“Financials is one sector which we have been very positive on and there should be a good rally from here onwards. There is still some steam left in the PSU banks as well as private sector large banks like ICICI, HDFC Bank and PSU banks like Bank of Baroda and Canara Bank.”

On the technical charts, the RSI of the stock stood at 48.79.

Promoters held 14.72 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 23.76 per cent and 28.0 per cent, respectively.

"The ‘look-through earnings’ of the Nifty50 will drop as Shree Cement’s free float earnings for FY22 stands at Rs 800 crore or 4 times that of Adani Enterprises’ free float earnings for FY22. The FY22 PE of the Nifty50 index will increase 0.9 per cent to 24.3 times while the FY22 RoE of the index will dip marginally by 3 bps to 14.69 per cent," ICICI Securities said.

The stock quoted a 52-week high price of Rs 7595.25 and low of Rs 3733.25.

After selling Indian stocks relentlessly from October 2021 to June 2022, FIIs turned net buyers of nearly Rs 5,000 crore in July. This month so far, they have bought equities worth Rs 8,441 crore in the cash segment. DIIs, on the other hand, have sold stocks worth Rs 1,906 crore in August till Monday.

As of 30-Jun-2022, promoters held 46.82 per cent stake in the company, while FIIs held 14.27 per cent and domestic institutional investors had 15.86 per cent.

Analysts are, however, unsure of the payback from 5G. Given that Bharti Airtel has been aggressive in 5G spectrum purchases, a few among them believe high capex may delay the deleveraging process. All eyes are on tariff hikes, they said while suggesting up to 9-34 per cent potential upside for the scrip

National Aluminium Company Ltd., incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 14472.66 Crore) operating in Metals - Non Ferrous sector.