Stay updated with breaking news from Akzo nobel india. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
There are many companies whose fortunes are tied up with crude oil prices because raw materials are made from crude derivatives. That is the reason why, the moment there is an announcement of a cut in production either by OPEC or even a voluntary cut by Saudi Arabia, their stock price feels the pain. We looked at companies whose fortunes are linked to crude indirectly and may gain as the crude have remained at levels which are in comfort zone for Indian companies.
StockEdge reported an overbought RSI trend in about a dozen stocks with a declining bearish trend and a fall in RSI below 70. From this list, ETMarkets picked 10 stocks that reveal an intriguing combination of an overbought zone and bearish RSI trends for analysis. The Relative Strength Index (RSI) is a crucial technical
The RSI is a widely-used technical oscillator that measures the magnitude and velocity of recent price movements in a stock. RSI values range between 0 and 100, with readings above 70 considered overbought and readings below 30 considered oversold. RSI is calculated using the average gains and losses over a specified period, typically 14 days. This calculation provides insights into a stock's potential price strength or weakness.
By assessing the RSI trend, investors can understand whether a stock's upward or downward movement is gaining or losing strength. A rising RSI indicates increasing momentum and suggests that the stock's price is likely to continue its upward trend
The RSI is a widely-used technical indicator that measures the strength and velocity of price movements in a stock. RSI provides a numerical value ranging from 0 to 100, indicating whether a stock is overbought or oversold. It is calculated based on the average gain and loss of a stock's closing prices over a specific period, typically 14 days.
Action Construction Equipment is a leading manufacturer of construction equipment, specialising in cranes, material handling, and agricultural machinery. The company's stock soared to a new 52-week high of Rs 605 in Monday's trade.
Several Indian stocks, including Praj Industries, Granules India, PVR Inox, Mishra Dhatu Nigam, Tata Motors DVR, The Phoenix Mills, Metro Brands, Akzo Nobel India, Sona BLW Precision Forgings and Glenmark Pharmaceuticals, demonstrated strong market performance on July 7, 2023, surpassing their respective last week's high, according to data from StockEdge. The stocks belong to a range of sectors, such as bioenergy, pharmaceuticals, automotive components, paints, and coatings, as well as retail mall development and operation.
The size of the Indian paints & coatings industry is estimated to grow to Rs 1 lakh crore in the next five years from the present Rs 62,000 crore, said Akzo Nobel India.
Besides, the margin for the paints & coatings industry will improve as in FY23, it witnessed softening of raw material
The Indian paints and coatings industry is likely to grow to Rs 1 lakh crore in the next five years from the current Rs 62,000 crore, according to Akzo Nobel India's annual report. Due to softening of raw material prices, the paint industry's margins are also expected to improve. New entrants in the segment such as Grasim Industries, Pidilite, and JSW have increased competition.
Akzo Nobel India to scale up distribution; create differentiation as a part of growth strategy thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.