trending stock of the day, Trending Stock Today: Tsunami in the capital market, Kirloskar Industries is the top stock – top trending stock kirloskar industries ltd

MUMBAI – Capital markets recorded a bearish journey on Monday due to negative global cues. The Nifty50 of the national stock market is trading at its recent lows. A top stock in the ‘Casting & Forging’ sector, however, is trading at higher value levels during the day. It has experienced a journey close to setting new record highs.

Kirloskar Industries Limited is a leading company in Iron Casting, Investment (Bonds & Property), Wind Power Generation and Real Estate businesses.

The company owns land, buildings, apartments and offices in Pune, New Delhi and Jaipur. The Company has leased out most of these lands, buildings and offices to groups and other companies on lease and license basis.

This article is published by Dalal Street Investment Journal, India’s No. 1 investment magazine. Click here and subscribe to receive regular shares and recommendations from Teji.

The business segment of the company mainly consists of dividend income from group companies and property licensing fees. Together they contribute 90% of the total independent income. The company has reported an annual growth rate of 20.6% in the last 5 years.

The stock is currently trading on a technical breakout on the monthly and daily charts. Last week it bounced back from the trendline support drawn from the same high of November 2022 to January 2023 (Rs 2,169). Company shares rose more than 3.31% on Monday. Rs. Between 2,354 there is a strong buying sentiment. Technical parameters in stocks validate bullish bias. All short-term and long-term moving averages and the 14-day period RSI (64) are bullish on the daily time period test. Elder Impulse System has also given new buy signals. Its settlement at the intraday high would be the highest closing level ever. The stock’s volume of trading activity in the last 25 days is likely to support an upward price movement.

Considering all the technical aspects of such a stock, Kirloskar Industries Limited stock may remain bullish for the coming sessions. Investors can keep this stock in their watchlist.
Disclaimer: This above is third party content and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or endorse any of the above content or its accuracy nor is responsible for it in any manner whatsoever. The content does not constitute any investment advice or solicitation of any kind. Users are advised to check with certified experts before taking any investment decision and take all steps necessary to ascertain that any information and content provided is correct, updated and verified.