Bank Nifty's short-term trend has turned positive as it closed above its 5- and 20-day EMA
HDFC Bank alongwith its subsidiary HDFC Securities will pick up stake worth Rs 6.9 crore in backend software infrastructure development company Borderless Softtech, the bank said on Tuesday. For this, the bank said it has executed an agreement for subscribing 8,108 compulsory convertible cumulative preference shares (CCCPS) of face value of Rs 10 each of Borderless at a premium of Rs 606.60 directly for consideration of Rs 616.60 per piece. Indirectly, its subsidiary HDFC Securities will acquire 1,03,989 optionally redeemable compulsory convertible cumulative preference shares (ORCCCPS) of Borderless at the same valuation. The acquisition will happen at a cash consideration of Rs 49,99,392 by HDFC Bank and Rs 6,41,19,617 by HDFC Securities. Borderless facilitates global fractional investing in US listed stocks, funds and ETFs (exchange traded funds). "Post investment, bank will hold in aggregate 7.76 per cent of the shareholding of Borderless on a fully diluted basis, directly and
Stock price has broken out on the daily line chart with higher volumes
On June 3, Oberoi Realty's stock surpassed the crucial double top resistance of 630 on a closing basis
Momentum indicators are in favour of bulls
The stock price has already broken out from the downward slopping trendline on the daily chart
Nifty has recently made higher bottoms at 14,416 and 14,591 and continues to trade above the 20 and 50-day SMA
HDFC Securities pointed out that industrial credit growth remained muted although registering positive YoY growth for the first time since September.
Confirmation of breakout in Nifty would come, once it sustains above 15,000 levels
The stock has corrected 27 per cent from its all-time high level of Rs 9,952 touched on February 5
The short term trend is positive where the stock is trading above its 5-, 20- and 50-day EMA
On Tuesday, the stock of SBI has given breakout from the downward sloping trend line
The short-term trend of the stock turned positive as stock price closed above its 5-day EMA, first time after 07-April 2021
The sustained level below 14,190 could drag Nifty towards 13,600-odd levels
Longs should be protected with the stoploss of 14,275 in Nifty
The stock price has broken out on the daily line chart where it closed at highest level since March 12 with higher volumes
Short build-up was seen in the Maruti Futures' where we have seen 69 per cent (prov) rise in the Open Interest with price falling by 4 per cent
The large liquidity sloshing around and the listing gains of past IPOs are the key reasons for the IPO market doing well
L&T Tech's stock price has broken out from the long-term consolidation, which it held for the last two months
The stock price has broken out on the daily chart where it closed above 200-day EMA with higher volumes