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Ministry of Mines has allowed SAIL to sell 25% of its total iron ore production which will push up its Ebitda margin in the coming quarters. Apart from this, strong operational performance and increased steel consumption are the factors that have made the company a favourite of analysts. ....
BUY IRCTC | TARGET: Rs 1,550 | STOP LOSS: Rs 1,409 The stock has breached a falling channel with higher than average volumes on the daily chart. It has also surpassed its 50-DMA which will now act as an immediate support. The momentum indicators and oscillators have reached the oversold territory and are showing signs of reversal. Based on the above rationale, we can expect the stock to make an attempt to fill the gap which is placed near 1,550 levels. BUY HINDPETRO | TARGET: Rs 235 | STOP LOSS: Rs 214 The stock has formed a bullish engulfing candlestick pattern along with a tweezer bottom at 214 levels on the daily chart. It has reached the lower band of the Bollinger band which is likely to act as an immediate support. It is trading well above its short-term and long-term moving averages. The momentum indicator and oscillators are also very well in the buy mode on the weekly scale, which hints of a strong reversal on the higher side. ....
Brokerages are of the view that strategic divestment may lead to significant re-rating of the public sector enterprises (PSEs) stocks, as seen during 2002. ....
Investors with a long-term horizon can consider this offer The IPO of Indian Railway Finance Corporation (IRFC), a public sector enterprise and the dedicated market borrowing arm for the Indian Railways, appears reasonably priced for medium- to long-term investors. The ₹4,600-crore IPO is open for subscription during January 18 - 20 at a price band of ₹25- 26 per equity share. It is a combination of fresh issue of shares (118.8 crore shares) and offer for sale ( 59.4 crore shares). Post-IPO, the promoter holding (Government of India) will drop to about 85 per cent. This 34-year-old company raises financial resources through taxable bonds, term loans and external commercial borrowing to fund the capex requirements of the Indian Railways. The growth in IRFC’s loan book is directly correlated to the Railways’ capex plans, while margins are protected by fixed spreads. A significant portion of its revenues arise from financial leasing arrangements with the Railways ....