In the Nifty500 pack, nine stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on July 21, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
GNG Electronics, India's largest refurbisher of laptops and desktops, plans to raise 400 crore through a fresh issue and 60 crore through an offer for sale. The company's revenue and net profit have more than doubled in the last two fiscal years, driven by strong growth in overseas markets.
Bharti Airtel's market capitalization surged to 11.44 lakh crore, surpassing Tata Consultancy Services to claim the third-largest company position in India. According to NSE data, TCS's market cap stood at 11.42 lakh crore. Reliance Industries leads with 19.3 lakh crore, followed by HDFC Bank at 15.34 lakh crore.
SEBI has conditionally lifted the trading ban on Jane Street after the firm deposited 4,844 crore in an escrow account. Stock exchanges are directed to closely monitor Jane Street's dealings to prevent manipulative activities during the ongoing investigation. Jane Street maintains that SEBI's order reflects a misunderstanding of standard hedging practices.
Reliance Industries' shares experienced a decline of over 3% on Monday. This followed the release of Q1 earnings that were lower than anticipated. Investors reacted to the results and a deferred IPO plan. Despite the dip, brokerages maintain a positive outlook on the company. They foresee potential growth triggers in the near future.
ICICI Bank is currently favored by short-term investors over HDFC Bank due to its strong June quarter performance, marked by healthy profit growth and resilient margins. HDFC Bank faces post-merger challenges, including a high credit-deposit ratio, impacting investor sentiment. While ICICI Bank offers better near-term earnings visibility, HDFC Bank's long-term growth potential remains a key focus for investors.
