The shares of the leading metal-producing company gained up to 4 percent after the company commissioned a new blast furnace and launched a sinter plant at its Jamuria facility with an investment of Rs 600 crore. With a market capitalization of Rs 24,285.87 crore, the shares of Shyam Metalics and Energy Ltd were trading at [...]
India's iron and steel industry is an important sector, accounting for over 2% of GDP and employing over 6 million people. It produces over 100 million tons of steel each year, making it the world's second-largest manufacturer. The industry benefits the infrastructure, automotive, and construction industries. With a market capitalization of Rs 23,223.77 crore, the [...]
Shares of an iron and steel company fell nearly 7 percent on Monday’s early trades to reach an intraday low of ₹ 436.60 apiece on the National Stock Exchange (NSE) after its promoters said that they would be selling a 6.3 percent stake in the company via an offer for sale (OFS). At 10:28 AM, [...]
The Minimum Public Shareholding Rule is applicable to all listed companies in India. As per the rule, 25 percent of the outstanding equity shares of a company must compulsorily be held by the public. Here, ‘public’ is defined as non-promoters. This rule was brought in to reduce promoter domination and stock markets are widely held [...]
We believe that there is more steam left to this pullback rally and hence it can extend higher till 17,700 where resistance in the form of the 50% Fibonacci retracement level (17,695) and the 20-day moving average (17,703) is placed. Considering the sharp up move in today’s trading session a consolidation cannot be ruled out. [...]
