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The Relative Strength Index of the stock stood at 43.32 on Thursday.

MOSL said that it is cautious on steel demand in India at current steel prices. With the onset of the monsoon over the next two months, steel prices are set for a correction, it said adding that strong cash flow for TATA, however, will support any downside from current levels.

Capex guidance for CY22 was at ~Rs 1 billion and it would remain around similar levels in future as well. Castrol is venturing into new areas such as CAS and the tie-ups with Jio-BP (which would require capex) will help the company gain market share. The company is also looking to improve the yields through its cash on books of ~Rs 16 billion at present.

Among the five categories, employees and policyholders quotas were fully subscribed, with the given portions getting oversubscribed 2.16 times and 1.34 times, respectively.

Can Fin’s ability to sustain asset quality even in a tough environment reflects its entrenched business model, even as book size is much smaller than peers. With the growth outlook remaining robust, Axis Securities expects Can Fin Homes to sustain its growth momentum and grow AUM at a ~19-20% CAGR over FY23-24E.

Shares of City Union Finance rose to a high of Rs 1,694.45 as against Rs 1,621.60 at previous close on the BSE.

“I do not think we are in a bull market. We are probably in a very choppy trading range and I would actually think that the chance of it going down is still higher than up because commodity prices are still very high and inflation is a real thing. Also, we are probably looking at a rate hike cycle in front of us, this is going to last for quite a few months.”

"Heightened uncertainty surrounds the inflation trajectory, which is heavily contingent upon the evolving geopolitical situation," central bank governor Shaktikanta Das said. "Global commodity price dynamics are driving the path of food inflation in India, including prices of inflation-sensitive items that are impacted by global shortages due to output losses and export restrictions by key producing countries."

Hero MotoCorp, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 48144.69 crore) operating in Auto sector.

Sameet Chavan of Angel One said that the range of 16,800-16,900 have now become an immediate hurdle. "It would be interesting to see how Nifty behaves around 16,600-16,500," he said.