Nifty and Sensex hit record highs in trade today after the US Fed signaled that its interest rate-hiking policy is at an end and it will cut rates in 2024. Amid the rally, brokerages have come out with a bearish view (sell/reduce calls) on three stocks.
Shares of Torrent Power rose 8.88 per cent to hit a 52-week high of Rs 666 on BSE. Its market capitalisation swelled to Rs 31,607.76 crore. Torrent Power said it intends to execute these projects over a period of 5 years.
Mid-cap power stock: The counter's 14-day relative strength index (RSI) came at 57.64. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 22.35.