Page 90 - Technical Research News Today

Reliance Industries share price today: Reliance Industries shares ended 0.11% lower at Rs 2635.45 on Friday against the previous close of Rs 2638.35 on BSE. The stock of Reliance Industries has gained 3.42% this year and risen 44.49% in three years.

Shares of renewable energy firm Suzlon Energy Ltd fell nearly 4% today despite the board of renewable energy provider announcing last week that it has cleared a proposal to raise up to Rs 2,000 crore. The company will explore various financial routes to raise the amount. The stock slipped 3.85% to Rs 17.20 against the previous close of Rs 17.89 on BSE. Market cap of Suzlon Energy fell to Rs 21,697 crore.

Tata Motors shares which stood at Rs 437.55 on April 6 closed near its record high of Rs 624.65 hit in the last trading session (July 7, 2023). During the session, the stock also hit an intraday low of Rs 592.25 on BSE. The auto stock has surged 467% in three years.

After suffering losses in the previous session, the Sensex and the Nifty traded with gains in the morning trade on Monday, July 10. Analysts expect the benchmarks to see some consolidation as they trade at record high levels.

Tata Motors share price: On technical setup, the counter's 14-day relative strength index (RSI) came at 77.51. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-earnings (P/E) ratio of 75.29. It has a price-to-book (P/B) value of 9.14.

Quarterly earnings, domestic inflation and IIP data will take the centre stage in dictating the movement in equities

Quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data will dictate movement in equities this week, along with global factors and foreign investor activity.

Global factors and trading activity of foreign investors will also drive market

Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.

The market is likely to sustain the momentum, as stock-specific action will pick up with the onset of the Q1FY24 earnings season, Siddhartha Khemka of Motilal Oswal Financial Services has said