Interestingly, the stock witnessed a faster retracement as it saw a correction of 35 per cent in 11 weeks and retraced its entire downmove in just two weeks, which signals strength as well as a robust price structure.
The shares of Inflame Appliances saw a jump of over 6.41 per cent on Friday's trading session. Inflame Appliances shares saw a price volume jump on Friday and also on Thursday's trading session this week. The reason for recent optimism in Inflame Appliances shares has been the allotment of 61,000 equity shares of the face value of Rs 10/- each, for cash, for Rs 382/- per equity share (including a share premium of Rs. 372 per equity share) aggregating to Rs. 25,25,02,000/- on preferential basis to non-promoters.
Amidst all these, there is one sector that has been a sheer outperformer and that is the auto sector. Nifty Auto index climbed over 10 per cent on a YTD basis.
Let’s check out the performance of Murugappa Group in three years.
The name of that company is GKP Printing & Packaging Ltd (GKPL), which serves industries such as garment exports, steel utensils, playing cards, liquor, toys, pharmaceuticals, printers, engineering, confectionery, and FMCG.
However, there is a new twist in this tale now and that is the emergence of the new power exchange in the country - Hindustan Power Exchange (HPX). Backed by BSE and Power Trading Corporation (PTC).
On Friday, the benchmark indices opted to trade in a range-bound manner with Sensex trading within a range of 348 points and Nifty advancing 118 points during the trading session.
BSE Smallcap index also closed in the green territory at 25,640.81, up by 0.28 per cent.
Indices remained firm throughout the day and closed positively. Nifty climbed 0.54 per cent to close at 16,220.60 while Sensex gained around 303 points.
Tube Investments of India Ltd is engaged in the auto components and equipment business and has delivered phenomenal returns for its shareholders in the past thirty days. From June 17 to July 8 2022, the scrip has jumped from Rs 1,551.25 to Rs 2,022, making a simple return of about 30 per cent. The huge upside was mainly driven by the robust sectoral outlook.
The quarterly sales have not only surpassed the pre-COVID levels but have been the best-ever for the company on the back of strong brand equity among consumers, the latest fashion products, and superior quality aided by the solid end-of-season sales, encouraging festive & wedding season across India.
Given the uncertainty prevailing in domestic capital market, Parijat Agrawal, Head (Fixed Income), Union Asset Management Company (P) Limited, shares a few tips for investors.
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