India's smallcap and midcap stocks have plunged significantly, marking the worst crash since the Covid market meltdown of March 2020. In February, the BSE Smallcap index fell 14%, while the Nifty Midcap 100 tumbled 10.8%. With valuations still high, key technical breakdowns, and earnings disappointments, further market turbulence is anticipated.
In the NSE list of stocks with a market cap of over Rs 1000 crore, four stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on February 28, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
Jubilant FoodWorks CEO Sameer Khetarpal discusses the company's growth strategy, including expanding from 465 to 700 cities and increasing store count. By avoiding price hikes for 10 quarters, Dominos increased market share. Focus on fast delivery, better consumer value, and strong same-store growth aim to enhance returns. Future plans include aggressive store expansion and scaling brands like Popeyes and Coffy.
Shares of Paytm's parent company, One 97 Communications (OCL), are likely to be in focus after the Enforcement Directorate issued a show cause notice for alleged foreign exchange rule violations amounting to Rs 611 crore. The violations reportedly relate to investments in OCL and its subsidiaries, Little Internet and Nearbuy India. Paytm is seeking legal advice to resolve the issue.
Beezaasan Explotech specializes in the manufacturing and supply of a wide range of explosives and explosive accessories, primarily cartridge explosives, including slurry explosives, emulsion explosives, and detonating fuses.
Bitcoin, the world's largest cryptocurrency by market value, shot up more than 11% to $94,110, while ether, the second-largest cryptocurrency, climbed 14% to $2,528.
The US dollar-denominated bonds will help the company manage its refinancing obligations which are due later this year as it continues to expand its pumped storage and integrated renewable energy projects across India. Greenko, backed by Singapore's GIC and Abu Dhabi Investment Authority (ADIA), is focusing on hybrid clean energy solutions.
Stocks like HDFC Bank, Bajaj Finance, Hindalco, Ashok Leyland, NTPC, BEL, Chola Finance, JSW Energy, Narayana Hrudayalaya, and SBI Cards look promising on the charts, with potential returns of 58%, analysts said.
After having dropped 32% from the all-time high, stock futures of the consumer goods manufacturer are seeing a bullish build-up. The stock is now showing signs of a gradual recovery and has reclaimed its short-term moving average, the 20-day EMA (exponential moving average), in the last trading session.
