Technically, the trades higher than the 100 day and 200 day moving averages but lower than the 5-day, 20-day and 50-day moving averages.
Shares of Ahmedabad-based education services provider Shanti Educational Initiatives Ltd (SEIL) are in focus as the company has issued a “letter of comfort” to ICICI Bank for a nearly Rs 5 crore loan undertaken by a subsidiary, according to an exchange filing. “The Letter of Comfort has been issued to the ICICI Bank Limited, in favour of Uniformverse Private Limited, Subsidiary Company,” SEIL informed the stock exchanges through its filing.
Meanwhile, the stock started the trading session in the green at Rs 168 against the previous close of Rs 166.55 on the BSE. It gained further to touch the high of Rs 168.90 before falling to the low of Rs 149.90. Last seen, the stock was trading at Rs 149.90 with a dip of 10 per cent, and the market cap of the company stood at Rs 2,413.39 crore.
Share price history
The stock has delivered a multibagger return of 1018 per cent in five years and 99.87 per cent in three years. However, the stock has corrected 22.21 per cent in on a year-to-date (YTD) basis as against the dip of 2.16 per cent in the benchmark index.
The stock has been losing for the last three days and has fallen 4.46 per cent in the period. Technically, the stock trades higher than the 100-day and 200-day moving averages but lower than the 5-day, 20-day and 50-day moving averages.
FIIs continue to sell
Meanwhile, foreign institutional investors offloaded equities worth Rs 4,346.13 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 3,935.31 crore, according to exchange data.
In Asian markets, South Korea’s Kospi index and Shanghai’s SSE Composite index traded higher, while Japan’s Nikkei 225 index and Hong Kong’s Hang Seng index quoted lower.
Brent crude, the global oil benchmark, climbed 0.16 per cent to USD 64.23 per barrel.
On Friday, the Sensex climbed 187.64 points or 0.23 per cent to settle at 83,570.35. The Nifty rose 28.75 points or 0.11 per cent to 25,694.35.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
