Bank Nifty has successfully maintained its short-term moving averages of 10 and 20 DEMA, positioned around 46,000. Now it faces crucial resistance at 47000 levels.
Indian Hotels share: The hotel stock, which closed at Rs 124.08 on December 10, 2020 rose to a high of Rs 441.55 in Monday's trade, clocking 255.85% returns during the period.
Indian Hotels shares delivered multibagger returns in three years; can they hit fresh high? businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Shares of Indian Hotels Ltd hit their record high amid a record run in Sensex and Nifty on Wednesday. Indian Hotels shares rose 1.39% to an all-time high of Rs 440.55 against the previous close of Rs 434.50 on BSE. The stock has climbed 254% in the last three years. Total 1.32 lakh shares of the firm changed hands amounting to a turnover of Rs 5.78 crore on BSE. Market cap of the firm rose to Rs 62,320 crore on BSE. The Tata Group’s multibagger stock fell to a 52-week low of Rs 280.20 on January 27, 2023.
Stocks that were in focus included names like L&T, which rose 1.88%, Cochin Shipyard, which fell 10.8%, and BEML, whose shares declined 10.61% on Tuesday.
The stock made a double bottom around its lower level and surged once again to close above 20-odd marks. Currently, the stock is in an uptrend and can face minor resistance of the previous higher level of 20.80; once the level is taken out, we can see 26-32 odd levels.
Stocks that were in focus include names like Tata Steel, which rose 3.12%, TVS Motor, which gained 5.86%, and DCM Shriram, whose shares fell 6.38% on Tuesday.