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PratapDarpan > Blog > Buisness > Market Insight > Shares of Indian Hotels fell 0.89% as Nifty fell
Market Insight

Shares of Indian Hotels fell 0.89% as Nifty fell

PratapDarpan
Last updated: 11 July 2024 12:11
PratapDarpan
11 months ago
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Shares of Indian Hotels fell 0.89% as Nifty fell
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Shares of Indian Hotels Company Ltd. fell 0.89 percent in Thursday’s trade to Rs. was 603.9. During that session Rs. 613.0 high and Rs. It touched a low of 603.9.

On the technical chart, the stock’s 200-DMA is Rs. 510.94, while the 50-DMA was Rs. was at 588.81. If a stock trades above the 50-DMA and 200-DMA, it usually means that the immediate trend is up. On the other hand, if the stock trades below the 50-DMA and 200-DMA, it is considered a bearish trend and if it trades between these averages, it indicates that the stock can go either way.

The momentum indicator trades below the signal line of the Moving Average Convergence Divergence or MACD, indicating a bearish bias on the counter. MACD is known for signaling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called a signal line, is plotted above the MACD to reflect “buy” or “sell” opportunities.

On the other hand, the relative strength index (RSI) of the stock is 48.61. Conventionally, a stock is considered overbought when the RSI value is above 70 and oversold when it is below 30.

Return on Equity (RoE) for the share was 13.31 percent while Return on Capital Employed (RoCE) stood at 17.46. RoCE is a financial ratio that determines a company’s profitability and capital utilization efficiency, while RoE is a measure of a business’s profitability in relation to equity.

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