Latest Stock Market News

On the technical charts, the RSI of the stock stood at 51.01.

Ratnamani Metals & Tubes Ltd., incorporated in the year 1983, is a Mid Cap company (having a market cap of Rs 11728.73 Crore) operating in Metals - Ferrous sector.

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 stock traded at a P/E multiple of 38.17, while the price-to-book value ratio stood at 3.4.

“Accenture seems to have reported very steady growth numbers and which is what the larger peers like Infosys and Wipro seem to be also echoing from the Indian standpoint. We have got our big brothers, they are leading the way. We are a midsized IT company focussing purely on digital. We are seeing growth out there in the market.”

Nifty50 in the recent uptrend entered the 15,886-16,172 down gap area but hesitated to build on gains. The index may stay in the 15,927-15,638 range in the near term, said Deepak Jasani, Head of Retail Research at HDFC Securities.

Risk-averse investors may follow the proportion of 30:50:10:10 across equity, debt, gold and other asset classes in a normal scenario and may stick to that with a small leeway,” Deepak Jasani, Head of Retail Research, HDFC securities said.

Gold prices have clearly ignored the headline of banning Russian gold exports by the G7 countries, and shifted their focus to more fundamental factors like the dollar index, said Patnaik, Head - Commodities, Axis Securities

As of 31-Mar-2022, promoters held 26.45 per cent stake in the company, while FIIs held 53.88 per cent and domestic institutional investors had 5.3 per cent.

“In the last couple years, we have made a lot of money in IT and commodities. But now capital goods – engineering stocks have also started doing well. So commodity consumers like engineering and infra and even the banking space, can be good in the next six months to one year.”