Latest Stock Market News

Fuel prices rose 20% on Friday, causing long lines to form at filling stations as the news spread. The new price of petrol will be 179.86 rupee per litre and diesel will be 174.15 rupee.

M M Forgings Ltd., incorporated in the year 1946, is a Small Cap company (having a market cap of Rs 1906.16 Crore) operating in Auto Ancillaries sector.

As of 31-Mar-2022, promoters held 0.0 per cent stake in the company, while FIIs held 13.34 per cent and domestic institutional investors had 15.31 per cent.

The Relative Strength Index of the stock stood at 54.0 on Friday.

The majority of the brokerages have a positive view on the counter as they suggested investors to hold the stock from a long-term perspective.

“At this point, one leg of the pain from inflation has been captured. The second leg of the potential pain is out there and I will wait for that to play out before making more authoritative calls like the bottom has happened. I believe the pain from inflation can stretch a lot longer and that is why I would be a little bit more cautious about making a hard call that markets are going to bottom well before inflation pain is out.”

A total of 14,831 shares changed hands on the counter till 12:48PM (IST).

Founded in 2016, led by Nagendran Kandasamy, an ex-Boeing, aeronautical industry veteran, TAS has been approved by Directorate General Civil Aviation (DGCA) and Ministry of Defence (MoD) to manufacture civil and military grade drones. the company did not disclose the financial details of the transaction.

Shares of Solar Industries will go ex-dividend. The company had announced a final dividend of Rs 7.5 per share. Manappuram Finance will also go ex-dividend today. It had announced an interim dividend of Re 0.75 per share

For the last couple of quarters, Asian Granito stock is consistently facing resistance at a higher level. It has been consistently forming a lower top series formation. After a long correction, currently, the stock is trading near the crucial support level. We are of the view that the short texture of the stock is weak but is in an oversold zone.