The stock of HDFC AMC Ltd has formed a strong base near the 50-day EMA of 3,650-3,670 and is on the verge of a downward sloping trendline breakout. On Tuesday, the stock recorded above-50-day average volume, which is a sign of accumulation before actual breakout. Sudeep Shah, DVP and head of derivative and technical research at SBI Securities, recommends using this strategy.
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The National Asset Reconstruction Company (NARCL), India’s state-sponsored bad bank, is seeking to appoint a new managing director and chief executive officer. The asset reconstruction company has invited applications from candidates with 25 years of banking experience for the job, the disclosures made by the company on its website said.
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Avaada Energy on Wednesday announced that it has secured a 250 MW solar-wind hybrid power project in an auction by NTPC. The project, which can be set up anywhere in India, will be connected to the Inter State Transmission System (ISTS) network, ensuring seamless energy delivery across regions, a company statement said.
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