Indian steel stocks, while no longer the best bets in the market, do not appear particularly bad either. We, however, prefer non-ferrous metals both in India and globally.

“17,950 is kind of a strong hurdle for Nifty. Unless we cross that level on a closing basis, I do not think 18,000 will be achievable .”

As of 30-Jun-2021, promoters held 51.34 per cent stake in the company, while FIIs held 17.17 per cent and domestic institutional investors had 3.51 per cent.

"We are seeing the old economy as well as new economy sectors firing. I do not think in our 10-12-year history, we have seen so many sectors do well at the same time."

The stock traded at a P/E multiple of -13.08, while the price-to-book value ratio stood at 599.54.

A total of 2,765,137 shares changed hands on the counter till 02:11PM (IST)

On the technical charts, the RSI of the stock stood at 43.28.

HSBC rose 1.5% as the release of an executive at telecoms company Huawei fuelled hopes the global bank would benefit from an easing in tensions between the United States and China.

Established players with a long term track record will continue to grow on the back of the credibility they have already built.

With the electric vehicle of ours which is a city speed category, you are looking at 1.5 units of power, which is about Rs 12. Multiply that over a span of three years or 1000 days, you are looking at Rs 1 lakh versus Rs 12,000.