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The enthusiasm of investors in the Indian stock market on June 17 was palpable. There was sudden tremendous buying pressure in some such shares in the market that the exchange had to impose a temporary ban on trading. The most talked about company in this race was ‘Sasken Technologies’, which has made its investors rich in just 90 days. At the same time, a strong upper circuit was also seen in ‘Vedanta Power’, a giant company with a market cap of more than ₹ 16,400 crore.
Sasken Technologies: ‘Goldmine’ for investors
There was a storm of buying in the shares of Sasken Technologies since this morning. This share, which opened at ₹ 2,194.70 on Tuesday morning, reached the peak of ₹ 2,407.20 in no time. The buying pressure was so high that the stock got locked at its upper level (upper circuit). If we look at the data of the last three months, this stock has proved to be no less than a rocket. One who would have invested ₹ 1 lakh three months ago, today its value has crossed ₹ 2.33 lakh. This return of 133% has become a topic of discussion even for market experts.
Vedanta Power shines, excitement in ₹16,000 crore company
Not only Sasken, but shares of Vedanta Power also showed tremendous enthusiasm. This stock, which showed slight weakness as soon as the market opened, gained such momentum within a short time that it reached the level of ₹ 42 and settled on the upper circuit. The company’s large size, i.e. market cap of around ₹16,423 crore, makes this rally even more significant. In this, 56.38% stake of promoters and 14% stake of FIIs shows how deep the trust of big players is in this company.
After all, what does ‘upper circuit’ mean?
It is important for new investors to understand that upper circuit means not only bullishness but also control of the market. When sellers in a stock become negligible compared to buyers, the stock moves very fast. In such a situation, market exchanges ban trading to control excessive volatility and protect the interests of investors.
Keep these things in mind before investing
Experts believe that it can be risky to invest emotionally after seeing a sudden rise in any stock.
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Financial Health: Before taking entry in any share, definitely check the fundamental and financial results of the company.
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Shareholding Pattern: Increasing promoter stake is always considered a good sign, which is visible in both Sasken and Vedanta Power.
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risk management: Profit booking is often seen after a sharp rise, hence it is important to take care of the stop loss.
At present, the actions of these two companies have given a positive direction to the market trend. Will this buying enthusiasm continue in the coming days or will there be a period of profit booking? To see this, all eyes are on the next market session.