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ETMarkets' analysis reveals the underperformance of jewellery stocks amidst gold's record highs. Most saw negative returns, with a few exceptions. Experts suggest cautious investment strategies with focus on companies' fundamentals and long-term prospects.
On Monday, the stock gained 6% and hit a fresh 52 week high of Rs 18.40 on a media report hinting at a possible tie-up between Vi and Starlink to pare entire gains on Tuesday after the company rejected the report. Investor interest remains paramount as the price action has been supported by volume action with over 100 crore shares getting traded in each of the last two trading sessions.
IRFC shares have outperformed Nifty in 2023 and over the last 12 months. The latter has given near 17% returns on a YTD and annual basis.
The stock is expected to continue its strong upward momentum in the coming days, derivatives analyst at SAMCO Securities Ashwin Ramani tells ETMarkets. On technical charts, HAL has been moving in higher highs and higher lows since November 23, 2023, he said.
Suzlon Energy stock has witnessed a 14% correction over the last three trading sessions after hitting back-to-back 52-week highs. The last time it was on Friday when Suzlon Energy shares scaled a Rs 44 peak on the NSE.