In line with this announcement, the stock is likely to witness renewed buying interest on Tuesday.

The reason might be profit booking, as the stock has been rallying for quite a long time, 20 per cent up in last 5 days, 70 per cent up in last 6 months. The stock looks expensive, it is trading at a P/E multiple of 250, and people didn’t feel the price matches the fundamentals, whereas the industry P/E is 158. 

This week there are eight mutual funds open offers out of which seven are open-ended schemes and one is closed-ended scheme.

Consolidated revenue stood at Rs 12016 crore for the quarter, a 15.69 per cent growth compared to the same quarter last year. 

The EBITDA margin of the cement maker stood at 22.59 per cent with a loss of 338 bps on a YoY basis. Despite reduced EBITDA margins operational efficiencies partially offset the negative impact of increased output and freight costs. PAT margins were at 10.90 per cent with a decline of 33 bps on a YoY basis.

Want to know which stocks have the potential to deliver alpha returns in the near term? We have chalked out a list of stocks based on the T20 breakout system.  

In the first trading session of the week, equity markets ended on a positive note, making fresh highs led by metal, PSU bank and power stocks. Around 1677 shares have advanced, 1563 shares declined, and 127 shares are unchanged on Monday.

On Monday, benchmark indices Sensex and Nifty recorded fresh highs of 61,963.07 and 18,543.15 respectively. Metal and banking stocks soared high during the session. BSE Mid-cap and Small-cap indices ended in the green territory, up by 0.95 per cent and 0.69 per cent respectively.  

Last week HDFC Bank made an all-time high and closed at Rs 1,687. Is its bullishness still intact? Let’s find out.

On Monday, at 3 p.m., the benchmark indices continued to trade higher led by the IT, power, metal and PSU banking stocks. The Sensex was up 525.14 points or 0.86 per cent at 61,831.09 levels, and the Nifty was up 155.30 points or 0.85 per cent at 18,493.80 levels.

Here’s a list of the stocks that are close to their 52-week high.