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Piramal Enterprises' shares rose nearly 3% after the company's board approved raising up to Rs 2,000 crore via NCDs. The fundraising will occur in one or more tranches, with each NCD having a face value of Rs 1,000. The company's stock has outperformed the Nifty index over the past year and year-to-date. Despite the day's gains, shares closed 2.
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In the Nifty 500, four stocks were witnessing Death Crossovers, according to stockedge.com's technical scan data. The death cross is a technical indicator of bearishness. The death cross appears on a chart when a stocks short-term simple moving average (SMA) crosses below its long-term moving average on the downside. These stocks' 50-day SMA crossed below their 200-day SMAs on December 20. Take a look:
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There have been news of gold-based lending going up, which is probably indicative of some stress and lot of that is now getting probably reflected in the price. So, some of the quality banks may do well.
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News and Media
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