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NEW DELHI: As the domestic stock market came under selling pressure in April, fund managers at ICICI Prudential Mutual Fund got busy buying oil & gas explorers and select midcap names in April even as they rushed to completely exit some of the recent debutant stocks.
The team led by S Naren bought nearly 5 crore shares of Hathway Cable & Datacom, which came out with an impressive earnings report for March quarter. Recently, Reliance Industries also sold some shares in the firm to trim its overall stake.
Besides the Reliance group firm, India s second largest fund house also bought 1-3 crore shares of ONGC, Ashok Leyland, JM Financial and Axis Bank. The first two are being seen as re-rating candidates ahead of the emerging growth cycle.
Federal-Mogul Goetze (India) has shut down its plant situated at Bangalore (Karnataka) starting from 10 May till 15 May 2021 in view of the current pandemic situation in the region.
Federal-Mogul Goetze (India) s consolidated net profit surged 278.80% to Rs 36.63 crore on a 27.8% jump in net sales to Rs 356.78 crore in Q3 December 2020 over Q3 December 2019.
Federal-Mogul Goetze (India) is a manufacturer of pistons, piston rings, sintered parts and cylinder liners covering a wide range of applications including two/three-wheelers, cars, SUVs, tractors, light commercial vehicles, heavy commercial vehicles, stationary engines and high output locomotive diesel engines. It also exports its products to many countries.
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NEW DELHI: Nifty saw a gap down opening on Tuesday, but soon recovered in the intraday session to form a bullish candle on the daily chart. The headline index snapped its four-day winning streak as it traded lower than the previous session s trading range.
Market reacted to the global fear of a rise in inflation, which many fear could trigger a Fed rate hike earlier than anticipated, said Ajit Mishra, VP - Research at Religare Broking. Nifty has been struggling to cross the 15,000-mark for the last two months and is witnessing a slide again after almost reaching that level. However, we feel the downside could be capped this time due to the existence of a support around 14,600 zone, he added.
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NEW DELHI: Nifty saw a gap down opening on Monday, but made a smart recovery to end slightly above the previous closing, forming a bullish candle on the daily chart.
Rohit Singre, Senior Technical Analyst at LKP Securities said, The overall structure will remain cautious for Nifty50 till it trades below 14,800 zone. On the higher side, the index has a stiff hurdle at 14,720-14,800 levels. Profit booking is suggested around the said levels. Fresh breakout will be only above 14,800 level and good supports are placed in the 14,550-14,500 zone.
Ashis Biswas, Head of Technical Research at CapitalVia Global Research said, The expected levels of the Nifty50 are likely to be in the range of 14,500 and 14,800, and it’s going to be crucial for the short-term market scenario to sustain above the 14,500 level. Therefore, the short-term traders should use the rally to exit while keeping a buy on dip approach. The momentum indicators like RSI, MACD show indecisiveness supportin
IEH FMGI Holdings (prompter group) divests 19.91% stake in Federal-Mogul Goetze (India) Federal-Mogul Goetze (India) announced that the company s promoter group i.e IEH FMGI Holdings LLC, has on 27 April 2021 divested 1,10,76,201 equity shares of Federal-Mogul Goetze (India) (the Company), constituting 19.91% of the issued and paid-up equity share capital of the Company through offer for sale (Oversubscription Option).
Consequent to the aforementioned sale, the Company has complied with the minimum public shareholding of 25% as mandated by SEBI.
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