Latest news with #RuchitJain
Mint
4 days ago
- Business
- Mint
IdeaForge share price: Drone stock jumps 7%, gives 55% returns in one month. Do you own?
IdeaForge Technology share price rallied over 7% on Wednesday amid a sharp uptick in trading volumes. The drone stock, IdeaForge shares spiked as much as 7.80% to ₹ 605.50 apiece on the BSE. On June 4, approximately 23 lakh equity shares of IdeaForge Technology changed hands on the exchanges, significantly higher than its one-week average volume of 11 lakh shares. The recent rally in IdeaForge comes on the back of heightened investor interest in defence and drone stocks, following the escalation of the India-Pakistan conflict. The Indian Army's 'Operation Sindoor', launched on May 7, showcased the country's indigenously developed drone and defence capabilities, including the destruction of key Pakistani air bases and the interception of incoming drones and missiles. IdeaForge Technology share price has jumped over 70% since May 6 — just a day before the operation. IdeaForge share price has gained 56% over the past month and 74% in the last three months. However, the drone stock is still down 4% on a year-to-date (YTD) basis and has declined 7% over the past year. Despite the recent recovery, IdeaForge shares continue to trade significantly below their listing and issue prices. The company debuted on the bourses on July 7, 2023, with a stellar listing at ₹ 1,305.10 per share — over 94% above its issue price of ₹ 672. The stock hit a 52-week high of ₹ 864.10 on July 12, 2024, and a 52-week low of ₹ 301 on April 7, 2025. IdeaForge share price has been forming higher highs with strong volumes. The recent price upmove is supported by high volumes. The short-term bias for IdeaForge shares remains positive and we can see a rally towards ₹ 650 level, said Ruchit Jain, Vice President, Equity Technical Research, Motilal Oswal Financial Services Ltd. Jain suggests a 'buy on dips' strategy and has an IdeaForge share price target of ₹ 650. At 12:05 PM, IdeaForge Technology share price was trading 5.79% higher at ₹ 594.15 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
26-05-2025
- Business
- Economic Times
What does Nifty's surge above 200-DMA mean for investors?
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: The recent rebound in the stock market has pushed the Nifty above its 200-Day Moving Average (DMA)-a long-term trend indicator-signalling a bullish undertone among blue chips. Beneath the surface, the optimistic mood may not be as widespread, but it's more sanguine than it was a couple of months the top 500 stocks, 226 are trading above 200-day moving averages, according to Axis Securities . When a stock or an index is above its 200 DMA, it's said to be in a long-term uptrend and vice versa. It's the average price of a stock or index over the last 200 trading days, which is close to a full trading year, helping investors get a better view of the price trends over a longer period. Nifty's 200-DMA is at 24,631, about 0.9% below Friday's closing level of 24, the stocks that are above 200-DMAs are still less than 50% in Nifty 500 index, it's higher compared to 95 in March and 45 in February, a sign of gradually improving investor confidence with a tinge of caution."The investor sentiment has improved significantly since February-March as the broader market has witnessed renewed buying interest, but the recovery is gradual as investors remain selective buyers focusing on companies that delivered good results," said Ruchit Jain, vice president- head technical research at Motilal Oswal Financial Services Of the stocks trading above 200- DMA, 62 are trading 10-20% away from the average price and 15 are at a 20-30% distance, while 138 are as much as 10% away. 11 stocks are trading 30% above their 200-DMA, according to Axis. Similarly, 162 stocks are up to 10% below the 200- DMA, 69 are 10-20% below the level, and 25 are over 20% bullish conditions, fewer than 50% of the top 500 stocks below the 200-DMA would not be a reason to celebrate, but given the lingering concerns over the economic fallout of tariffs and uncertainty over corporate earnings, optimists would consider this number acceptable.'Despite the muted fourth quarter earnings, a greater number of stocks out of the NSE 500 universe are trading above the 200-DMA compared to February and March, indicating investor confidence is returning on the street,' said Rajesh Palviya, head of technical and derivatives, Axis Nifty 500 Index slumped by nearly 8% in February but bounced back in March and April, gaining 7.3% and 3.2%, respectively. The Nifty Midcap 150 and Smallcap 250 indices have risen 17.6% and 20.2%, respectively, from their lows this year on February 28 and March 3.'Mid-caps moved up when domestic investors bought, and large-cap names performed well when foreign investors began purchasing after a period of aggressive sell-off, so there has been rotation among the stocks,' said Jain.
Time of India
26-05-2025
- Business
- Time of India
What does Nifty's surge above 200-DMA mean for investors?
Mumbai: The recent rebound in the stock market has pushed the Nifty above its 200-Day Moving Average (DMA)-a long-term trend indicator-signalling a bullish undertone among blue chips. Beneath the surface, the optimistic mood may not be as widespread, but it's more sanguine than it was a couple of months ago. Of the top 500 stocks, 226 are trading above 200-day moving averages, according to Axis Securities . When a stock or an index is above its 200 DMA, it's said to be in a long-term uptrend and vice versa. It's the average price of a stock or index over the last 200 trading days, which is close to a full trading year, helping investors get a better view of the price trends over a longer period. Nifty's 200-DMA is at 24,631, about 0.9% below Friday's closing level of 24,853. Though the stocks that are above 200-DMAs are still less than 50% in Nifty 500 index, it's higher compared to 95 in March and 45 in February, a sign of gradually improving investor confidence with a tinge of caution. "The investor sentiment has improved significantly since February-March as the broader market has witnessed renewed buying interest, but the recovery is gradual as investors remain selective buyers focusing on companies that delivered good results," said Ruchit Jain, vice president- head technical research at Motilal Oswal Financial Services . Agencies Of the stocks trading above 200- DMA, 62 are trading 10-20% away from the average price and 15 are at a 20-30% distance, while 138 are as much as 10% away. 11 stocks are trading 30% above their 200-DMA, according to Axis. Similarly, 162 stocks are up to 10% below the 200- DMA, 69 are 10-20% below the level, and 25 are over 20% away. In bullish conditions, fewer than 50% of the top 500 stocks below the 200-DMA would not be a reason to celebrate, but given the lingering concerns over the economic fallout of tariffs and uncertainty over corporate earnings, optimists would consider this number acceptable. 'Despite the muted fourth quarter earnings, a greater number of stocks out of the NSE 500 universe are trading above the 200-DMA compared to February and March, indicating investor confidence is returning on the street,' said Rajesh Palviya, head of technical and derivatives, Axis Securities. The Nifty 500 Index slumped by nearly 8% in February but bounced back in March and April, gaining 7.3% and 3.2%, respectively. The Nifty Midcap 150 and Smallcap 250 indices have risen 17.6% and 20.2%, respectively, from their lows this year on February 28 and March 3. 'Mid-caps moved up when domestic investors bought, and large-cap names performed well when foreign investors began purchasing after a period of aggressive sell-off, so there has been rotation among the stocks,' said Jain.
Economic Times
23-05-2025
- Business
- Economic Times
Indian markets decline amidst US bond market sell-off and rising yields
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: India's equity indices weakened on Thursday, mirroring an overnight sell-off on Wall Street , after a sharp sell-off in the American bond market pushed up the yields on long-term treasury bonds NSE Nifty fell 0.8%, or 203.75 points, to finish at 24,609.70. The BSE Sensex moved 0.8%, or 644.64 points, lower at 80,951.99. Both indices dropped as much as 1.4% earlier in the dayElsewhere in Asia, South Korea and Hong Kong fell 1.2% each. Japan declined 0.8% while Taiwan and China declined 0.6% and 0.2%, respectively. Indonesia ended 0.3% Wednesday, yields on the 30-year US Treasury - a proxy for the US government's long-term borrowing costs - surged to an 18-month high of 5.08% as bonds prices were under pressure in the wake of the economy's rising debt muted treasury bond auction and the downgrade of the US credit rating from AAA to AA1 amplified the recent bond sell-off.'The decline in the market today can be attributed to the sell-off in the US and Japanese bond markets, which led to jitters in US equities,' said Akshay Chinchalkar, head of research, Axis Securities. Foreign portfolio investors (FPIs) sold shares worth a net Rs 5,045 crore on May, overseas investors bought Rs 10,794.6 crore. Their domestic counterparts bought shares worth Rs 3,715 crore. Both indices declined around 1.5% each in the past five trading sessions. Notwithstanding the recent weakness, technical indicators are still not flashing bearishness.'The broader market has not seen a major correction and the buying interest in stocks indicate that today's fall was a correction in an uptrend,' said Ruchit Jain,vice president — head of technical research, Motilal Oswal Financial said the Nifty is trading above its 200-day moving average of 24,164, which implies it's a 'buy on dips' market for now.'If investors anticipated a further decline from here, then the volatility gauge would have shot up, but on the contrary, the India VIX fell today, indicating that a deeper decline is not currently priced in,' he Volatility Index or VIX — the market's fear gauge — fell 1.7% to 17.26 on Thursday, indicating traders expect lower risks in the near term. The Nifty Mid-cap 150 index declined 0.4% while the smallcap 250 index ended flat. Out of the 4,086 shares traded on BSE, 1,661 advanced, while 2,275 declined.
Mint
15-05-2025
- Business
- Mint
Cochin Shipyard Q4 Results: Consol PAT climbs 11% YoY to ₹287.18 crore; declares dividend of ₹2.25 per share
Cochin Shipyard Q4 Results: Cochin Shipyard on Thursday reported a 27% year-on-year (YoY) rise in its consolidated net profit at ₹ 287.18 crore in the fourth quarter, compared with ₹ 258.88 crore in the same quarter of last year. Revenue from operations in the same period surged 36.7% YoY to ₹ 1,757.65 crore. The same stood at ₹ 1,286.05crore in the corresponding period of previous year. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) for the quarter saw a decline of 7.6% compared to the same period last year, totaling ₹ 266 crore. Additionally, margins contracted by 730 basis points, dropping to 15.10% from 22.40% a year ago. The board has also proposed a final dividend of ₹ 2.25 per equity share with a face value of ₹ 5 each for the financial year 2024-25. 'The Board has recommended a final dividend of Rs. 2.25 per equity share of face value of ₹ 5 each, for the financial year 2024-25 subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The final dividend would be paid within 30 days from the date of its declaration at the AGM,' said the firm. This week, Cochin Shipyard share price has gained 19%. Ruchit Jain, VP - Equity Technical Research, Motilal Oswal Financial Services Ltd said that The defense sector has seen a positive trend in last few weeks and Cochin Shipyard stock has also started forming higher top higher bottom formation post the recent consolidation. Cochin shipyard share price could witness a gradual upmove towards ₹ 1,900 with immediate support placed around ₹ 1,640. Cochin Shipyard share price today, jumped nearly 7%, the stock opened at ₹ 1,729.40 apiece, it touched an intraday high of ₹ 1,814.90 per share, and an intraday low of ₹ 1,720 per share.
