Synopsis: The stocks listed, Cochin Shipyard Ltd, NCC Ltd, Alkyl Amines Chemicals Ltd, BASF India Ltd and Piramal Pharma Ltd, are currently in the oversold zone with RSI values below 30, suggesting potential for price rebounds.
The Relative Strength Index (RSI) is a technical indicator used in financial markets to measure the speed and change of price movements. It ranges from 0 to 100 and is typically used to assess whether a stock or asset is overbought or oversold.
An RSI value above 70 indicates that the asset might be overbought, suggesting it could be overvalued and might experience a price correction. Conversely, an RSI below 30 indicates that the asset might be oversold, potentially signalling that it is undervalued and could experience a price rebound.
The stocks to watch out for are listed below
Cochin Shipyard Ltd
Cochin Shipyard Ltd (CSL) is India’s premier shipbuilding and repair yard, a Government of India-owned ‘Miniratna’ PSU established in 1972, known for building large vessels (like aircraft carriers) and providing comprehensive ship repair, refit, and marine engineering training, serving both defense and commercial sectors globally.
With a market capitalization of Rs. 39,660.74 crores on Thursday, the stock closed at Rs. 1507.55, with an RSI of 21.26, indicating that it is in the oversold zone, offering the potential for an upside bounce.
NCC Ltd
NCC Limited is a major Indian infrastructure and construction conglomerate, established in 1978 and headquartered in Hyderabad, known for its diversified portfolio including Buildings, Transportation, Water & Environment, Irrigation, Electrical (T&D), Railways, and Mining, providing turnkey solutions for complex projects across India and internationally.
With a market capitalization of Rs. 9,609.19 crores on Thursday, the stock closed at Rs. 153.05, with an RSI of 15.59, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Alkyl Amines Chemicals Ltd
Alkyl Amines Chemicals Ltd (AACL) is a leading Indian manufacturer, established 1979, specializing in aliphatic amines, amine derivatives, and specialty chemicals for pharma, agrochemicals, water treatment, and rubber industries, known for its strong market share in methylamines, ethylamines, acetonitrile, and other niche products, driven by R&D and expanded capacities at its Patalganga & Kurkumbh plants.
With a market capitalization of Rs. 8,006.33 crores on Thursday, the stock closed at Rs. 1,565.45, with an RSI of 22.48, indicating that it is in the oversold zone, offering the potential for an upside bounce.
BASF India Ltd
BASF India Ltd. is the Indian arm of German chemical giant BASF SE, a leading multinational creating chemistry for a sustainable future, serving diverse sectors like agriculture, auto, pharma, and construction with solutions in chemicals, materials, nutrition, surface tech, and crop protection, known for innovation and sustainability.
With a market capitalization of Rs. 16,487.50 crores on Thursday, the stock closed at Rs. 3,809.00, with an RSI of 20.59, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Piramal Pharma Ltd
Piramal Pharma Ltd (PPL) is a global pharmaceutical company offering integrated services like Contract Development & Manufacturing (CDMO), selling hospital generics (anesthetics), and OTC consumer healthcare products.
With a market capitalization of Rs. 22,131.98 crores on Thursday, the stock closed at Rs. 166.50, with an RSI of 22.69, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written By Sridhar J
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