The stock moved in a narrow range since June 2023 on the daily charts where Rs 690 acted as resistance while on the downside support was visible at Rs 650 level which also corresponds to the 50-DMA.
A company issues bonus shares to their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors.
Stocks that share market analysts recommended on May 24: Religare Broking has a buy call on select stocks namely Ashok Leyland, Berger Paints and Indian Hotel Company. Watch this Visual Story to check share price target, technical analysis and more.
Stocks in focus today: Domestic benchmark indices are marching ahead driven by favourable developments such as declining inflation levels, steady foreign inflows. Bharti Airtel, Bank of Baroda, Vedanta, Adani Enterprises are among the stocks to watch on Tuesday, May 16, 2023.