PSU (Public Sector Undertaking) stocks refer to shares of companies that are owned or controlled by the government and these companies operate across various sectors, including energy, infrastructure, and finance.
The 200-day moving average (200 DMA) is a widely used technical indicator in financial markets. It is calculated by taking the average closing prices of a security over the past 200 days. One of the primary reasons the 200-day moving average is popular is its ability to act as a support or resistance level.
When a stock’s price is below the 200 DMA, it is often considered to be in a bearish phase. However, it could also present a buying opportunity if the stock shows signs of reversal or if it is oversold.
The stocks to watch out for are listed below
Cochin Shipyard Ltd
Cochin Shipyard Ltd is a public sector company specializing in shipbuilding and ship repair. It is one of the largest shipyards in India, focusing on building advanced ships and offshore structures for both domestic and international clients.
With a market capitalization of Rs. 33,805.88 crores on Thursday, the stock closed at Rs. 1285.00 per share, which is below its 200-day moving average of Rs. 1,782.82 in a day’s time frame. The stock is currently down by 28 percent from its 200-day moving average.
Rail Vikas Nigam Ltd
RVNL is a public sector enterprise focused on infrastructure development for the Indian Railways. It is involved in the construction, modernization, and maintenance of railway projects, including track laying, electrification, and station development.
With a market capitalization of Rs. 70,160.93 crores on Thursday, the stock closed at Rs. 337.00 per share, which is below its 200-day moving average of Rs. 463.34 in a day’s time frame. The stock is currently down by 27 percent from its 200-day moving average.
Bharat Dynamics Ltd
Bharat Dynamics Ltd is a leading manufacturer of defense equipment, specializing in guided missiles and associated defense systems. It plays a crucial role in India’s defense sector, catering to both domestic and international markets.
With a market capitalization of Rs. 38,822.63 crores on Thursday, the stock closed at Rs. 1,059.10 per share, which is below its 200-day moving average of Rs. 1062.80 in a day’s time frame. The stock is currently down by 16 percent from its 200-day moving average.
Coal India Ltd
Coal India Ltd is the largest coal producer in the world, responsible for the majority of coal production in India. The company supplies coal for various sectors, including power generation, steel, and cement industries.
With a market capitalization of Rs. 2,34,861.58 crores on Thursday, the stock closed at Rs. 382.00 per share, which is below its 200-day moving average of Rs. 450.04 in a day’s time frame. The stock is currently down by 15 percent from its 200-day moving average.
Housing & Urban Development Corporation Ltd
HUDCO is a public sector financial institution that provides loans for housing and urban infrastructure projects. It focuses on promoting affordable housing and sustainable urban development across India.
With a market capitalization of Rs. 36,384.53 crores on Thursday, the stock closed at Rs. 182.40 per share, which is below its 200-day moving average of Rs. 246.40 in a day’s time frame. The stock is currently down by 26 percent from its 200-day moving average.
Written by Sridhar J
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