Tata's order: Leading small-cap multibagger in power generation equipment market secures order for turbine generator from Tata group company!
Noteworthy is the stock's impressive performance over the past year, delivering multibagger returns with a staggering 153 per cent surge in its stock price.
The domestic market momentarily paused on Friday after reaching yet another record high earlier in the day, buoyed by positive signals emanating from global markets. Notably, the capital goods and industrial sectors exhibited strength, propelled by advancements in manufacturing and services. As the earnings season draws to a close, the market eagerly anticipates new catalysts, while simultaneously riding the wave of pre-election momentum. Lingering concerns persist over escalating crude oil prices, surging US bond yields, and stretched valuations, potentially prompting continued selling by Foreign Institutional Investors (FIIs).
Therefore, minor profit booking alongside consolidation cannot be discounted in the upcoming week, with support anticipated at 21,900, coinciding with the 21-day Exponential Moving Average (EMA). Conversely, in the event of a rebound, the index may endeavor to breach the key resistance area at 22,500.
One stock deserving of attention on your watchlist for the forthcoming week is GE Power India Ltd. On Friday, the stock concluded with a marginal gain of 0.03 per cent at Rs 293.45, witnessing a delivery quantity of 221,358 shares, which accounts for 39.78 per cent of the deliverable quantity to traded quantity ratio.
The company has announced the receipt of a purchase order from Tata Power Company Ltd. for services related to overhaul and other works concerning the Turbine Generator, with an execution timeframe of 55 days and a base value of Rs 6.75 crore.
Noteworthy is the stock's impressive performance over the past year, delivering multibagger returns with a staggering 153 per cent surge in its stock price.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ offers a service 'Flash News Investment' with recommendations for Profit-making Ideas for You (Weekly) based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the service details pdf here