Latest Stock Market News

The Relative Strength Index of the stock stood at 46.59 on Tuesday.

Ajay Srivastava discussed the challenges and strategies in stock market investment, emphasizing the importance of selecting and selling stocks wisely amid current market volatility. He noted the growth potential in the insurance sector and cautioned against certain PSU and overpriced chemical stocks, advocating for long-term investment in fundamentally good stocks.

Political unrest in Bangladesh caused shares of Saffola edible oil producer Marico to drop over 4%, as the company generates 11-12% of its revenue from the country. Several other companies with operations in Bangladesh, including Pearl Global Industries, Emami, Bayer Corp, GCPL, Britannia, Vikas Lifecare, Dabur, Asian Paints, Pidilite, Jubilant Foodworks, and Bajaj Auto, could also be affected by the ongoing turmoil.

As of 30-Jun-2024, promoters held 38.12 per cent stake in the company, while FIIs held 27.19 per cent and domestic institutional investors had 13.71 per cent.

Amid political turmoil in Bangladesh potentially driving textile companies to outsource to countries like India, textile stocks surged on Tuesday. Gokaldas Exports, Century Enka, and SP Apparels saw gains of up to 18%. Gokaldas Exports hit a 52-week high of Rs 1,089.40 on the NSE, driven by expectations of increased textile exports from India.

​So, if there is a meaningful correction in names like VIP or Marico where there is a strong linkage in terms of their overall business, I think we should surely look at some of these companies in terms of buying into it if there is a negative reaction.

​ETMarkets identified 11 stocks with over 30% returns in the September quarter for the last three years. Three have already become multibaggers in CY24.​

A total of 30,573 shares changed hands on the counter till 12:53PM (IST)

The stock quoted a 52-week high price of Rs 4465.0 and a 52-week low of Rs 3060.0.

A short buildup occurs with rising open interest and volumes, coupled with falling stock prices, indicating bearish expectations. On Tuesday, five stocks saw new short positions.