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The Relative Strength Index of the stock stood at 42.53 on Tuesday.

“It is good for traders and FIIs to get in and buy the dips; but the Indian investor, by and large, has been buying both dips and highs. They bought in October for instance, which in hindsight was a ridiculous buy. But this is a consequence of tweaking the mutual fund commission rules. The mutual fund industry does not tell a customer to get out.”

The stock quoted a 52-week high of Rs 1987.0 and a 52-week low of Rs 378.0.

A total of 32,718 shares changed hands on the counter till 02:05PM (IST).

Atul Auto Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 399.37 Crore) operating in Auto sector.

“Given that retail consumption and retail credit are on higher side, already the corporate credits catching up the banks would probably have one of the best times going forward. The current fall is largely due to the traders selling out in the market to pay their differences. This could be an opportunity to buy some quality banking and NBFC stocks into the portfolio.”

As of 31-Dec-2021, promoters held 54.8 per cent stake in the company, while FIIs held 24.85 per cent and domestic institutional investors had 11.41 per cent.

The Relative Strength Index of the stock stood at 30.62 on Tuesday.

The selling has persisted despite the company narrowing its losses drastically in the December quarter. The food delivery firm also hinted it was very close to achieving Ebitda breakeven. But none of the rhetoric could help its shares, which are now less than half its peak.

A total of 27,500 shares changed hands on the counter till 12:43PM (IST)