Shares of Bandhan Bank rise as Nifty drops
On the technical charts, the 200-day moving average of the stock stood at Rs 224.44.
Shares of . gained 2.88 per cent to Rs 196.0 in Thursday's trade as of 10:10AM (IST). It hit a high of Rs 197.2 and low of Rs 192.0 during the session.The stock quoted a 52-week high price of Rs 272.0 and a low of Rs 173.45. The return on equity for the stock stood at 11.2 per cent. About 812,468 shares have changed hands on the counter so far.
The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.26.
The scrip has been an underperformer, down 3.97 per cent in the past one year in comparison with a 26.86 per cent gain in .
Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 173.45 on April 04, while the 50-DMA was at Rs 200.4. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.
Promoter/FII Holding
Promoters held 39.98 per cent stake in . as of 31-Dec-2023. Mutual funds and foreign institutional investors held 9.63 per cent and 34.74 per cent stake.
Source: Stocks-Markets-Economic Times
