RPower shares at fresh one-year highs! Multibagger stock rallied 73% in 14 sessions; what's next?

Reliance Power share price: The stock jumped 5 per cent to hit a new 52-week high value of Rs 51.10. At this price, the scrip has gained 61.69 per cent in a month and delivered multibagger returns to investors by rallying 113.36 per cent in 2024 so far.

Shares of Reliance Power Ltd on Tuesday continued their winning run for the 14th straight session. The stock jumped 5 per cent to hit a new 52-week high value of Rs 51.10. At this price, the scrip has gained 61.69 per cent in a month and delivered multibagger returns to investors by rallying 113.36 per cent in 2024 so far.

Suzlon Energy gets 'advisory cum warning' letter from BSE, NSE; stock extends fall

Suzlon Energy share price: "On review of the responses and documents received from the company on the issues raised by the resigning independent director, it was identified that there seem to be few instances where better corporate governance practices could have been followed by the company," BSE & NSE stated.

Suzlon Energy Ltd on Tuesday received an 'advisory cum warning' (SiC) letter from bourses BSE and NSE. "On review of the responses and documents received from the company on the issues raised by the resigning independent director, it was identified that there seem to be few instances where better corporate governance practices could have been followed by the company," exchanges stated

Orient Cement shares jumped 9% today; what's next for this stock on technical charts?

Orient Cement share price: The stock saw high trading volume on BSE as around 3.06 lakh shares changed hands today. The figure was higher than the two-week average volume of 91,000 shares. Turnover on the counter came at Rs 9.40 crore, commanding a market capitalisation (m-cap) of Rs 6,415.47 crore.

Shares of Orient Cement Ltd surged 8.76 per cent on Tuesday to hit an intraday high of Rs 315.95. The stock was last seen 7.80 per cent up at Rs 313.15. At this price, it has rallied 47.16 per cent in the last six months.

The stock saw high trading volume on BSE as around 3.06 lakh shares changed hands today. The figure was higher than the two-week average volume of 91,000 shares. Turnover on the counter came at Rs 9.40 crore, commanding a market capitalisation (m-cap) of Rs 6,415.47 crore.

On technical setup, Orient Cement looked 'bullish' on daily charts. With that being said, support on the counter could be seen in Rs 305, followed by Rs 292 and Rs 291 levels.

"The price action analysis of Orient Cement has experienced a profit booking rally, with a correction of nearly 27% from its peak. The range of 310-320 is expected to serve as immediate resistance. A decisive recapture of this range is anticipated to attract further bullish strength in the price action. We recommend purchasing the stock as it presents a favourable risk-to-reward opportunity, with a target price of 358 and advise maintaining a stop loss at 291," said Kushal Gandhi, Technical Analyst at StoxBox.

Immediate resistance for the stock will be at Rs 320 level and a decisive close can only trigger next the leg of rally, said Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking. Support will be at Rs 305, Singh added.

"Orient Cement stock price is bullish on daily charts with strong support at Rs 291.7. A daily close above resistance of Rs 321.8 could lead to an upside target of Rs 360 in the near term," said Sebi-registered research analyst AR Ramachandran.

The counter traded higher than the 5-day, 10-, 20-, 30-, 100-, 150-day and 200-day simple moving averages (SMAs) but lower than the 50-day SMA. The scrip's 14-day relative strength index (RSI) came at 56.86. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the company's stock has a price-to-equity (P/E) ratio of 34.10 against a price-to-book (P/B) value of 3.41. Earnings per share (EPS) stood at 8.52 with a return on equity (RoE) of 10.01. Promoters held a 37.90 per cent stake in Orient Cement as of June 2024.

On technical setup, Orient Cement looked 'bullish' on daily charts. With that being said, support on the counter could be seen in Rs 305, followed by Rs 292 and Rs 291 levels.

Orient Cement stock price is bullish on daily charts with strong support at Rs 291.7. A daily close above resistance of Rs 321.8 could lead to an upside target of Rs 360 in the near term," said Sebi-registered research analyst AR Ramachandran.

KRN Heat Exchanger IPO: GMP falls after allotment; is still a multibagger in making?

Rajasthan-based KRN Heat Exchanger sold its IPO in the price band of Rs 209-220 per share with a lot size of 65 shares, which was open for bidding between September 25 and September 27.

KRN Heat Exchanger and Refrigeration has finalized the basis of the allotment of its shares, which has already been made public. However, the grey market premium (GMP) of the issue has seen a decent correction, which has reduced the listing expectations for the investors who have got the allotment of shares in the IPO. The stock shall be listed on Thursday, October 3.

KRN Heat Exchanger and Refrigeration (KHERL) was able to garner stellar demand from the market and the stock is expected to see listing gains of over 100 per cent after attracting a solid response from the investors during the bidding process, said Sagar Shetty, Research Analyst at StoxBox.

"KHERL is well-positioned to capitalize on these trends and strengthen its market position. We thus advise participants who have been allotted with the issue to book profit from the listing gains. We will reassess our recommendation if the company's financial situation shows signs of improvement in the future," he added.

Rajasthan-based KRN Heat Exchanger sold its IPO in the price band of Rs 209-220 per share with a lot size of 65 shares, which was open for bidding between September 25 and September 27. The company aimed to raise around Rs 341.95 crore from its primary offering, which was entirely a fresh share sale of 1,55,43,000 equity shares.

The issue was overall subscribed an astounding 214.42 times, thanks to all round demand. The portion for qualified institutional bidders (QIBs) was booked a solid 253.04 times, while the quota for non-institutional investors (NIIs) was subscribed 431.63 times. The allocation of retail investors was subscribed 98.29 times during the bidding process.

KRN Heat Exchangers is a leading player in the industry, which is set for a strong stock market debut. The IPO saw impressive subscription of, highlighting strong investor interest, said Shivani Nyati, Head of Wealth, Swastika Investmart. "The IPO's valuation was fair. Its strong fundamentals

Brokerage firms were mostly positive on the issue suggesting to subscribe to it. Holani Consultants is the sole book running lead manager of the KRN Heat Exchanger IPO, while Bigshare Services is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE.

Published on: Oct 02, 2024, 4:42 PM IST

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