Technical charts suggest that Reliance group stocks such as Jio Financial Services, Network18, Just Dial, Alok Industries and Den Networks can crack up to 21 per cent from here.
Alok Industries, HFCL, Just Dial, Network 18, Den Networks and Hathway Cable, part of RIL-group holdings, were seen trading with huge losses even as RIL stock hit a 8-month high on Wednesday.
Technical charts suggest that smallcap stocks such as Balrampur Chini, Alok Industries, 360 One Wam, Elgi Equipments and Godawari Power are poised to gain in the near-term; check key levels here.
Alok Industries and Chambal Fertilisers among others have recently bounced back above their 30-EMAs; charts suggest a possibility of an up move in the near-term.
On August 14, billionaire Mukesh Ambani-owned Reliance Industries said it would likely invest around Rs 14,200 crore in its subsidiaries in the current financial year
Stocks to Watch Today: Ambuja Cements, AU SFB, Alok Textiles, Hindustan Unilever, HDFC Life, ICICI Lombard, L&T Finance and Rallis India to announce Q1 results on Tuesday.
The rally, some analysts argue, comes on the back of the company's change in focus from being a textile play to manufacturing protective gear in battling the Covid-19 pandemic
Capacity has been scaled up to produce more than 100,000 PPE kits per day and cost has been slashed to nearly Rs 650 per unit from the about Rs 2,000 apiece imported price, they said
The appellate tribunal observed that Sebi in its affidavit had also said that there is no requirement for permission of the market regulator for such delisting
