Introduction

Vascon Engineers Ltd. engages in the construction and development of residential and non-residential properties. It operates through the following segments: Engineering, Procurement and Construction (EPC); Real Estate Development and Manufacturing and Building Management System. The EPC segment include construction of residential, commercial, industrial, and other construction. The Real Estate Development segment focuses in the development of residential, hotel premises, and industrial park. The Manufacturing and BMS segment manufacture clean room partition and BMS.

Observation

Stock shows a very positive momentum today 12% gain intraday. on a day chart stock shows a breakout after 3rd rejection on 24 June with tweezer top candlestick pattern. but today stock breakout its 75 level it will retracement till 79.40 levels. as per day chart stock show a marubozu candlestick on 1hr chart open marubozu candlestick. if you see closely on week and monthly chart stock formed a close marubozu candlestick pattern that represent a very positive signal. Rsi breakout on day, and weekly chart. stock will touch 90 levels in week as per technical analysis

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News of the day

1. APL Apollo Tubes raised 1 billion (₹100 crore) Indian rupees through the issuance of commercial papers in favor of ICICI Prudential Liquid Fund, according to an Indian bourse filing on Tuesday. The commercial papers carry an interest rate of 7.35% and will mature on Sept. 24, the filing said.

2. Alkem Laboratories incorporated a wholly owned subsidiary named Alixer Nexgen Therapeutics, according to a Monday filing to the stock exchanges. The new company will conduct research, studies, and innovation, develop novel medicines and treatments in key therapeutic areas, and establish global collaborations

3. State Bank of India on July 16 announced the launch of a new term deposit scheme “Amrit Vrishti”, which offers an attractive interest rate of 7.25 percent per annum on deposit of 444 days, effective from July 15, 2024, India’s largest lender said in a statement. The new scheme caters to both domestic and non-resident Indian customers, according to the statement. For senior citizens, the lender will offer an interest rate of 7.75 percent. Interested individuals can invest in the scheme through various channels - SBI branches, YONO SBI and YONO Lite (mobile banking apps), and SBI internet banking (INB).

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Wed Jul 17, 2024