The phase of consolidation may last as long as the index trades below the 21,000 mark, with immediate support at 20,850 and crucial support at the 20,500-20,300 levels, but if the index decisively closes above 21,000, then 21,500 could be the possibility
Positive setup was seen in stocks like Tata Power, IEX, Container Corporation, India Cement, MGL, MCX, Zydus Life, LIC Housing Finance, BEL, Voltas, BHEL, etc.
In 1995, The Oberoi Group converted the property spread over 77,000 square meters into a five-star hotel after signing an agreement with the Himachal Pradesh state government through a joint venture called Mashobra Resort (MRL). Under the arrangement, the state government got shares that translated into a stake in the venture. As per its annual 2022-2023 report, EIH holds 78.79% shares in MRL, and the ownership interest held by non-controlling interests is listed as 21.21%.
According to consensus price targets compiled by Bloomberg, stocks like EIH, Cholamandalam Financial, TeamLease Services, Bank of India, Sunteck Realty, Mahindra Holidays, Zomato could return 15-29% after analysts raised their price targets on these stocks.