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Nomura has set a target price of Rs 770 on the stock. Interestingly, in order to reach all-time high level of Rs 1,610, the stock will need to more-than-double from the said target. From the last close, it suggests an upside potential of nearly 19 per cent.

Tech giants trading in Hong Kong led gains with a 10% jump, amid hopes that Beijing will stop its sweeping regulatory clampdown on the embattled sector.

The pan-European STOXX 600 index rose 1.1%, trimming its monthly declines to 0.9%.

Erasing initial gains amid a choppy session, the 30-share pack Sensex declined 460.19 points or 0.80% to close at 57,060.87. Axis Bank, Reliance, and Infosys were top index drags. The Nifty Bank index fell nearly 1 per cent. Its broader peer, NSE Nifty50, slumped 142.50 points or 0.83% to 17,102.55.

“Play your stories, play your investment trust; play your commodities stocks – the dividends are good; go for good long term stories and the new stories structuring stories coming out. Those have done well for it. Let us see what happens to autos, tractors, everything at the end of June quarter and we will take a call. There is no hurry to invest in 70% of the companies in this country.”

"A company like Bajaj Auto does and what Reliance does makes an amazing comparison. Reliance puts its cash to use. Bajaj Auto puts its cash in FDs. Now you can decide whether you want to be with the guy who puts in FDs or a guy who puts new things on the table. Yes he will take ambitious bets, yes there will be corrections but I think this is one stock one needs to buy on correction and not sell on correction."

As of 31-Mar-2022, promoters held 59.47 per cent stake in the company, while FIIs held 24.44 per cent and domestic institutional investors had 3.63 per cent.

The Relative Strength Index of the stock stood at 68.76 on Friday.

Adani Power has increased multifold over the past few months. The stock has shown one of the strongest rises and the majority of the traders or investors are waiting for dips to buy. Let us understand from the Elliott Wave perspective the probable areas and target levels for this stock.

Deepak Fertilisers & Petrochemicals Corporation Ltd., incorporated in the year 1979, is a Small Cap company (having a market cap of Rs 8271.47 Crore) operating in Fertilisers sector.