Shares of #DeltaCorp plunged 10% to Rs 166.65 after Rakesh Jhunjhunwala sold an additional 5.7 million equity shares of the company. After the current reported transaction, his holding will come down to 1.2%. Jhunjhunwala previously sold 60 lakh and 15 lakh shares between June 1-14, bringing his holding down to 3.36% from 6.17%. It also cut its FY23 profit estimates for the company by 37% to Rs 1,658.6 crore.ĭelta Corp falls the most in four weeks after Rakesh Jhunjhunwala sells 57 lakh equity shares for Rs 96 crore in the open market, according to reports. The brokerage cites possible demand-supply surplus in FY23-24, price and delay in the current projects leading to cost overrun for downgrading its rating on the stock. National Aluminium Co is falling as ICICI Securities downgrades its rating on the stock to ‘Sell’ from ‘Reduce’ with a target price of Rs 52. The stock is falling for last two consecutive sessions. Stocks like Persistent Systems, Pidilite Industries, Rashtriya Chemicals & Fertilizers, Angel One, and Varroc Engineering are in the oversold zone according to the technical indicator relative strength index or RSI.Īxis Bank falls to a new 52-week low of Rs 624.45 per share. Vedanta sees a short build-up in its Jun 30 future series as its open interest rises 11% with put to call ratio at 0.49. Of the 1,906 stocks traded today, 234 were in the positive territory and 1,648 were negative.īrightcom Group, Gland Pharma, Relaxo Footwears, and Orient Electric are trading with higher volumes as compared to Friday. Nifty IT closed in the green, following the tech-focused NASDAQ 100, which closed higher on Friday. Nifty Bank and Nifty Realty, which opened higher than Friday’s levels, closed in the red. Nifty Midcap 100 and Nifty Smallcap 100 closed deep in the red, despite the benchmark index closing in the green. Crude oil falls sharply amid demand concerns on the back of slow economic growth induced by interest rate hikes. Investors continue to monitor elevated inflation levels globally and the effect of aggressive interest rate hikes by the central banks on economic growth. The S&P 500 lost 5.8% last week, its biggest weekly loss in two years. The Dow Jones closed marginally lower while the tech-heavy NASDAQ 100 rose 1.2%. Major Asian indices closed mixed, tracking the US indices, which also closed mixed on Friday. European stocks trade higher than Friday’s levels amid mixed global cues. Indian indices snapped their six-day losing streak and closed in the green.
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