Market Bizzz

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Positive macroeconomic data and normal monsoon forecasts boosted equity markets at the end of last week, with IT, realty and FMCG all seeing gains. RIL saw a 3% rise, but Page Industries saw a drop of 8.78%. Senior Technical Analyst, Swastika Investmart, Pravesh Gour, recommends buying RIL stocks as it has seen a breakout of inverse head and shoulder formation on the longer timeframe with strong volume, suggesting a potential bullish reversal. Med Plus is risky but currently trading above its moving averages, and Page Industries is a good buy for the long term.

The company’s total income, however, rose to Rs 3,643.02 crore from Rs 3,107.04 crore in the year-ago quarter.

HDFC’s bond issue, which may have an additional subscription option of up to ₹5,000 crore, may see the rate of interest being set around 7.80%, market sources said.

Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.

The UAE-based promoters own 41.88% and FIIs 38.63% in the company. As per the reports, Aster’s investors Olympus Capital, which has a 19% stake and Mauritius-based investment firm Rimco, with a 12% stake, are considering the sale.