Latest news with #RajeshBhosale
Mint
3 days ago
- Business
- Mint
Penny stock under ₹15 surges 20% on order win from ONGC
Penny stock: Shares of Aakash Exploration Services surged nearly 20% on Wednesday's session after the company was issued a Letter of Award (LOI) from Oil and Natural Gas Corporation Limited (ONGC). The total value of the order is approximately ₹ 19.36 crores. The timeframe for executing the orders is set at three years. The company has secured the Letter of Award for the charter hiring of one 50 MT workover rig for use at the Ahmedabad Asset. This year, Aakash Exploration Services secured a contract valued at ₹ 29 crores from the Indian Maharatna Public Sector Enterprise, Oil India Limited, for the provision of a high-pressure Mobile Boiler along with necessary accessories for the production of high-quality steam. The execution of this order is scheduled to take place over a period of 2 years. Aakash Exploration Services Limited is a company that offers services for Oil and Gas Exploration with a core mission of becoming a leader in delivering services to the Oil and Gas sector while achieving international standards of excellence. Headquartered in Ahmedabad, Gujarat, the company is also affiliated with the International Association of Drilling Contractors. The net profit of Aakash Exploration Services fell by 92.02% to ₹ 0.28 crore in the quarter that ended in March 2025, compared to ₹ 3.51 crore in the quarter ending March 2024. Sales dropped by 16.57% to ₹ 25.77 crore in the quarter ended March 2025, down from ₹ 30.89 crore in the previous quarter of March 2024. Aakash Exploration Services share price opened at an intraday low of ₹ 9.01 per share on the NSE, the stock touched an intraday high of ₹ 10.51 apiece. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the stock witnessed strong momentum in today's session, surging over 16% and decisively crossing above the key 200-day SMA. It has remained in focus throughout the week, and the uptrend may continue in the near term. The previous swing high near ₹ 12 acts as resistance, while immediate support is seen around ₹ 9.5. ONGC share price rose 1.4% on Wednesday's session, the stock touched an intraday high of ₹ 255.90 apiece on the BSE, and an intraday low of ₹ 252.80 per share. According to Anshul Jain, Head of Research at Lakshmishree Investments, ONGC has breached a 53-day-long VCP pattern with a pivot breakout at ₹ 254. While the structure lacks tightness and volume isn't deeply institutional, the setup is valid for a small-quantity positional trade. A sustained move above ₹ 254 may lead the stock toward ₹ 268, which is also a major resistance level formed by previous swing highs. Given the loosely built structure, the move may be slow and volatile. Traders should be cautious and treat this as a mean-reversion bounce toward resistance.
Mint
3 days ago
- Business
- Mint
Dalmia Bharat share price edges higher as promoter raises stake in cement company
Dalmia Bharat share price rose by over 1% during Wednesday's trading session. Keshav Power Limited, a promoter group entity associated with the cement giant, has notably enhanced its stake in the firm by purchasing 6.73 crore equity shares, which accounts for 35.90% of Dalmia Bharat's current paid-up capital. This acquisition was carried out through a Scheme of Amalgamation, which became effective on June 13, 2025, with an appointed date set for April 1, 2023. As a result of this transaction, Keshav Power's direct ownership in Dalmia Bharat Limited has grown from 0.52% to 36.42%. The acquisition was revealed in accordance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Even with the significant alteration in Keshav Power Limited's individual ownership, the total shareholding of the promoter and promoter group in Dalmia Bharat Limited stays constant at 55.84%, as the transaction represents an internal group restructuring. Keshav Power's purchase of shares in Dalmia Bharat stems from a Scheme of Amalgamation ratified by the Hon'ble National Company Law Tribunal (NCLT), Cuttack Bench. The order, issued on May 30, 2025, approved the merger of four transferor companies with Keshav Power Limited (the receiving company). The companies that were amalgamated include: Ankita Pratisthan Limited (Transferor Company 1); Mayuka Investment Limited (Transferor Company 2); Shree Nirman Limited (Transferor Company 3); and Sarvapriya Healthcare Solutions Private Limited (Transferor Company 4). Dalmia Bharat share price today opened at an intraday low of ₹ 2,060.25 apiece on the BSE, the stock touched an intraday high of ₹ 2,085.10 per share. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Dalmia Bharat share price is trading flat today and has remained under pressure throughout the week. The ongoing weakness may persist, with immediate support near ₹ 2,000. On the upside, the ₹ 2,150– ₹ 2,180 zone remains a key hurdle, and only a breakout above this range could revive positive momentum. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
3 days ago
- Business
- Time of India
How should you place your bets as Nifty makes a U-turn from 25,000? Vinay Rajani answers
Live Events You Might Also Like: Buy on dips and lighten up position at higher levels; 2 stocks to buy now: Rajesh Bhosale (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel , AVP,says the Indian stock market is currently experiencing a tug-of-war between bulls and bears, with Nifty facing strong resistance at 25,000. Despite a recent recovery, the market remains choppy with sector rotation. Concerns arise from a bearish engulfing pattern in Bank Nifty . Caution is advised unless Nifty closes above 25,000, while a break below 24,700 could trigger selling definitely a tug of war is going on between bulls and bears and a nice recovery was registered in the last three trading sessions. We have seen more than 500 points rise from the lower level, but somehow this 25,000 is a big hurdle and Nifty is not able to find its feet above that level; so that continues to remain a strong resistance. So, we are into choppiness is there and sector rotation is going on. It is doing well. Now banking has been performing weakly. We have seen in the past that IT and banking are having a negative correlation and the same is happening. I am a bit concerned about the Bank Nifty chart because last week we saw a bearish engulfing pattern on the weekly charts, and a bit of a cautious stance should be taken on the basis of yes, we cannot still say that we are out of woods or any geopolitical issue or any particular news can again drag the Nifty downside. So, unless we get a close of about 25,000 in Nifty, we should remain cautious on the market because now we can see that for the last two trading sessions breadth has also been not 25,000 is a very crucial level to watch out for. Unless we get close above that, we should remain cautious. On the lower side, if Nifty were to break 24,700 which happens to be Monday's low, then momentum selling could again emerge in the market. So, right now, we are in a very choppy range. It is tough to take a directional trade for the traders. But I would like to suggest support and resistance. Resistance would be 25,000 and support is at 24,700 in the spot Nifty. Once that is broken, we can exit the trading long PSU banks are actually looking strong on the positional charts. If I were to refer to the monthly and weekly time frame, they are still looking very strong on the charts and they can do well. We saw a breakout previously, but we cannot rule out the possibility of the short-term correction. So, overall, they are looking to the private sector banks, I still feel that PSUs are placed stronger on the positional charts. We can expect short-term corrections, but the overall trend remains bullish. We can expect 3%, 4%, 5% correction in the stocks in the PSU segment, but dips should be bought into if you are taking more than 15-day view in the market.
Hans India
4 days ago
- Business
- Hans India
Nifty 50 ends near 24,950, bulls regain momentum
The NSE Nifty 50 bounced back on Monday, ending a two-day losing streak with a strong gain of 227.9 points (0.92%) to close at 24,946.5. The rally was supported by gains across heavyweight stocks and positive global cues, as investors kept an eye on geopolitical developments and awaited key domestic triggers. Intraday, the Nifty touched a high of 24,967.10, while the BSE Sensex surged 677.55 points (0.84%) to settle at 81,796.15, after hitting a high of 81,865.82. Analysts expect the Nifty to trade in a broad consolidation zone between 24,400 and 25,200. According to Rajesh Bhosale, Technical Analyst at Angel One, the 24,400–24,450 range, which aligns with the 50-day exponential moving average (EMA), is a critical support level. Reclaiming 24,825 and crossing 25,000 will be vital for bullish continuation, he said, advising traders to accumulate near support and book profits near resistance. Choice Broking echoed a similar view, noting the formation of a strong bullish candle on the daily chart. The index has rebounded from the 50-day EMA and moved above the 20-day EMA, signaling renewed strength. The brokerage highlighted that immediate support lies at 24,900, followed by the 24,700–24,500 range. A breakdown below this could trigger fresh selling pressure. On the upside, a breakout above 25,000 and 25,200 is required to resume the broader uptrend, it cautioned. Bajaj Broking added that Monday's session saw a bullish candle with a higher high and low, suggesting demand at lower levels. They forecast continued consolidation between 24,400 and 25,200, with key support at 24,400–24,500 and immediate resistance at 25,000. Meanwhile, the Indian rupee strengthened by 3 paise to close at 86.06 against the US dollar, aided by a narrowing trade deficit of $21.88 billion in May, compared to $26.42 billion in April. Disclaimer: Investors are advised to consult their financial advisor before making any investment decision.
Mint
5 days ago
- Business
- Mint
LIC-backed NBFC raises ₹2,000 crores via QIP; Quant Mutual Fund ups stake to 5.96%
Capri Global Capital shares fell more than 5% during the early part of Monday's trading session; however, the stock has bounced back in the latter half of the session today. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Capri Global Capital shares highly volatile counter witnessing sharp swings on both sides. After a gap-down start today, the stock recovered to trade flat. The recent low near ₹ 150 acts as strong support, while a breakout above ₹ 185 and the 200DMA could trigger positive momentum. Traders should wait for a decisive move beyond the ₹ 150– ₹ 185 range. Capri Global Capital share price today opened at ₹ 167.65 apiece on the BSE, the stock touched an intraday high of ₹ 172.60 per share, and an intraday low of ₹ 161.50 per share. As per shareholding pattern public shareholder for the quarter ending 12 June 2025 on the BSE, Life Insurance Corporation Of India (LIC) holds 7.89% stake in Capri Global Capital. Sbi Life Insurance Co too holds 2.97% stake in the firm. In its most recent filing, the company announced that Quant Mutual Fund raised its stake to 5.96% from 1.53%. The non-banking financial company (NBFC) has announced that it successfully completed its Qualified Institutional Placement (QIP), raising primary equity capital of ₹ 2,000 crores by issuing approximately 136.5 million shares to institutional buyers. The QIP Committee, authorized by the Board, met on June 12, 2025, to determine the pricing and allocation for the QIP. As stated in an exchange filing, this is the company's first QIP in the past ten years. The offering received an enthusiastic response from a diverse group of institutional investors, including both foreign and domestic long-only funds, mutual funds, and insurance companies such as Quant Mutual Fund, 3P Investment, BlackRock, Think Investments, Allspring Global Investments, ICICI Prudential Life Insurance, HDFC Life Insurance, ICICI Lombard General Insurance, SBI General Insurance, HDFC ERGO General Insurance, TATA AIF, and many other long-only investors, underscoring the company's execution and technological capabilities, strong governance, and long-term vision. 'The successful QIP marks a significant milestone in Company's growth journey. The capital raised will enable us to capitalise on growth opportunities across key lending verticals, expand our geographical presence, invest in AI & data science capabilities and strengthen our capital base,' said Rajesh Sharma, Managing Director of the company.
