On the daily chart, ITI has confirmed "Rounding Bottom" formation breakout at Rs 115 levels along with huge volumes. The stock has recaptured the 200-day SMA and rebounded sharply.
Vakrangee, after a Hammer kind of candlestick pattern, formed robust bullish candle with strong volumes as the stock climbed 13 percent to Rs 29.80. MACD (moving average convergence divergence) remained positive since June 24 and now is near the equilibrium line (zero line), which is positive indication, while the Stochastic has given positive crossover and RSI also showed uptrend indicating sentiments are positive in the stock.
At current juncture, Trident is in crucial support zone of Rs 35-36. Moreover, exactly at those levels, we have seen Bullish Engulfing on June 21 along with volume picking up and it is a sign of positive momentum.
The global engineering and product development digital services firm has entered into a Memorandum of Agreement (MoA) with the government of Tamil Nadu for 5 years for the purpose, it said in a statement.
Budget 2022 | The project aims to bring rural access to e-services, communication facilities, and digital resources on par with urban areas.
The company will build Phase 4 of the Army Static Switched Communication Network for secured communication across the country.
The value of the bid is approximately Rs 7,796 crore
The company expects to start production of the ventilators in about two-and-a-half months from the date of signing of the memorandum of understanding and technology transfer of the ventilator technology to it from the DRDO.
That the market is not yet in euphoric territory is seen from its rejection of the ITI FPO
The Rs 1,400-crore public issue was subscribed 62 percent despite extending the subscription period twice since its opening, and reducing the price band to Rs 71-77, down from Rs 72-77 earlier.
After the issue, government shareholding in the company will reduce to 74.96 percent from 90 percent.
The issue has received bids for 9.8 crore equity shares against offer size of 18.18 crore shares, the exchange data showed.
The Rs 1,400-crore further public offer (FPO) has received bids for 8.86 crore equity shares against offer size of 18.18 crore shares, as per data available on the NSE.
The reserved category for retail investors has seen subscription of 92 percent and that of qualified institutional buyers 49 percent and non-institutional investors 16 percent.
The company, in consultation with merchant bankers, extended the closing date for FPO by three more days.
The government's shareholding will be reduced to 74.96 percent, from 90 percent currently after the issue.