Shares of Bandhan Bank rise as Nifty gains

Shares of Bandhan Bank rise as Nifty gains
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 314.08.

Reuters
Nifty continues to climb a wall of worry as it looks to be in the final leg of its rally before heading for a correction.
Shares of Ltd. gained 1.39 per cent to Rs 310.85 in Friday's trade as of 01:31PM (IST). It hit a high of Rs 311.35 and low of Rs 304.2 during the session.

The stock quoted a 52-week high price of Rs 430.25 and a low of Rs 259.4. The return on equity for the stock stood at 12.66 per cent. About 80,136 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 7.96 per cent in the past one year in comparison with a 41.96 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 259.4 on November 12, while the 50-DMA was at Rs 299.96. 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 39.99 per cent stake in Bandhan Bank Ltd. as of 30-Sep-2021. Mutual funds and foreign institutional investors held 2.45 per cent and 33.61 per cent stake.

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