Introduction

The Shipping Corp. of India Ltd. is a holding company, which engages in the business of transporting goods, it operates through the following segments: Liner, Bulk, Tankers, Technical and Offshore Services, and Others. The Liner segment includes break-bulk, container transport, passenger vessels, and research vessels managed on behalf of other organizations.

Observation

As we can see stock rise 20% on 11th July considering a good announcement in budget. on a day chart stock show a Gravestone doji candlestick pattern that represent a profit booking on day chart. now stock can retrace it L1 or L2 which is 308 and 285 levels after retrace stock can go up. after breakout its 271 level rsi is also strong and above 60 levels. DAY, WEEK, MONTH all time frames show bullish momentum will remain continue.

Technical Analysis & indicators 🔍

Gravestone doji

Rounding Bottom

News of the day

1. Tata Consultancy Services' earnings may improve in FY 2025 from a year earlier after it posted above-consensus revenue in 1Q FY 2025, Nomura analysts say in a research report as they raise the stock's target price to INR3,860.00 from INR3,800.00 with a neutral rating. The IT services provider's total contract value of deal wins was US$8.3 billion with a book-to-bill ratio of 1.1X in 1Q, as certain large-sized deals got pushed to 2Q, the analysts say. A rate cut cycle and a possible thaw in decision-making by U.S. companies following November's elections could provide a 'fillip' to demand for the Indian company's services

2. Hindustan Zinc HINDZINC started sourcing power from Serentica Renewables' 180-megawatt solar project for its operating units in Rajasthan, India, according to a press release filed with the Indian bourses on Thursday. "The first phase will see Serentica supplying renewable energy to the world's largest integrated zinc-lead smelter, India's first zinc smelter and the world's largest underground zinc mining operations," Hindustan Zinc said in the release.

3. Aditya Birla Fashion and Retail ABFRL acquired an additional 17.5% stake in Goodview Fashion for 1.27 billion (₹1.04 lakh crore) Indian rupees, according to a Thursday filing to the stock exchanges. With this, the company's shareholding in Goodview Fashion has increased from 33.5% to 51%, making it a subsidiary instead of an associate company.

Educational content

Fri Jul 12, 2024