Page 2 - Mech Projects News Today

Power Mech Projects stock rose 3.64% to Rs 5,398 against the previous close of Rs 5208.05 on BSE. Market cap of Power Mech Projects climbed to Rs 8357 crore.

On Tuesday, 1536 stocks advanced, 2301 declined and 92 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.67, indicating negative closing of stocks in broader markets.

The recent budget unfolds promising fiscal metrics, signaling a shift towards fiscal prudence. With a noteworthy reduction in the fiscal deficit to 5.8% of GDP for the current year and a targeted 5.1% for the next, the government displays a commitment to financial responsibility. This approach extends to the reduction in net borrowings, promising improved funds availability for the private sector.

Traders are advised to accumulate longs in Nifty with stop-loss of 21,500 on the closing basis.

On Monday, 2252 stocks advanced, 1671 declined and 141 remained unchanged, with an advance decline ratio of 1.34 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets.

The other order is for comprehensive O&M (operation and maintenance) Service of 3x660 MW Ghattampur Thermal Power Project for an amount of Rs 263.57 crore, it stated.

Given the strong optimism, the bulls are likely to take the Nifty 50 to the 22,000-22,200 zone in near term with an immediate support at 21,800-21,700 levels, followed by crucial support at 21,500 mark, experts said.

In a fervent market rally, the Indian markets reached new peaks, propelled by the performance of IT giants. The IT sector, showing early signs of recovery, particularly in the Banking, Financial Services, and Insurance (BFSI) segment, has significantly influenced market sentiments. The belief in an improved outlook for BFSI in FY24-25 was a key driver behind the soaring performance of IT heavyweights on Friday.

Power Mech Projects stock gained 3.86% to Rs 4505.15 against the previous close of Rs 4337.65 on BSE. Later, Power Mech Projects stock ended 3.44% higher on BSE.

Nifty 50 index lost 197 points to concluded 0.93 per cent lower at 21,710, Sensex sank 0.93 per cent lower at 71,355 levels, , stock market, nifty, sensex, national stock exchange, retail investors, ongc, Power Mech Projects, Honasa Consumer, Intraday