Buy or sell: The Nifty index concluded the week at 25,356, positioning itself near the key resistance zone of 25,500. As highlighted in previous analyses, a close above 24,600 ignited bullish momentum, paving the way for resistance targets between 25,200 and 25,500. As we have mentioned following a period of oversold conditions, a pullback rally … Read more
Tata Steel, on Wednesday, announced that the board has recommended a final dividend of ₹3.60 per share of face value ₹1 each along with fourth quarter financial results. “Recommended a dividend of ₹3.60 per Ordinary (Equity) Share of face value ₹1/- each (360%) to the shareholders of the Company for FY2023-24,” the company said in … Read more
Metals companies are expected to report a mixed bag for the three months ended March (Q4FY24), with ferrous metal companies projected to see a drop in profits, while non-ferrous metal firms would likely be on a strong footing. Despite an increase in volume, ferrous metal companies suffered from a decline in prices, worsened by higher … Read more
Shares of Bajaj Auto, Adani Ports & Special Economic Zone, Tata Steel, Larsen & Toubro hit their fresh 52 wk highs today. Nifty 50 was down by -37.9(-0.17%) points and Sensex was down by -226.64(-0.31%) points at 02 Apr 2024 10:59:58 IST.Bank Nifty was up by 17.9(0.04%) at 02 Apr 2024 10:44:59 IST.In the BSE … Read more
Foreign brokerage firm CLSA has reiterated its cautious stance on the Indian steel sector citing higher valuations and incremental shift in the profit pool towards miners. The brokerage has downgraded Tata Steel to ‘Sell’ from ‘Outperform’ and cut its target price to ₹135 from ₹145 per share. It has also downgraded JSW Steel to ‘Sell’ … Read more