Here is why CONCOR and Tata Motors are on the street radar
Market Lazer | Shares of Container Corporation of India (CONCOR) and Tata Motors are near the lows that they hit earlier this year.
Shares of Container Corporation of India (CONCOR) and Tata Motors are on the street's radar on Monday. While, CONCOR shares are trading at Rs 723.8, up 1.64 percent from the previous close on the BSE, the Tata Motors shares are at Rs 387, up by 2.5 percent.
CONCOR
The stock hit a low on May 20, 2022 and since then it has been on a rising trend line but on Friday last week it broke that trend line and closed at Rs 712. This is what makes the stock to be in radar.
Shares of CONCOR have declined over 2 percent in five days and in one month the shares have gone down by over 5 percent. In the year so far the shares of CONCOR have gained nearly 17 percent.
In October this year analyst Mitessh Thakkar of Earningwaves.com had given a Buy rating to the shares of CONCOR with a target price of Rs 825 and a stop loss of Rs 773.
Meanwhile, PTI reported on December 9 that the Narendra Modi government is likely to invite preliminary bids for privatising CONCOR in January.
Tata Motors
The second stock to keep on the radar is Tata Motors. Shares of Tata Motors are at Rs 387, up by 2.5 percent from the previous close on the BSE. The stock touched a low in March 2022, then in May 2022 and then in June 2022. Now the stock is back nearing the lows as it closed at Rs 378 on Friday last week.
This makes it worthwhile to keep the stock in radar for a bounce back or for a downward acceleration.
Shares of Tata Motors have declined over 6 percent in the past five days and over 10 percent in one month. In the year so far Tata Motors shares have gone down 22 percent on the BSE.
Also read: Market LIVE Updates: Sensex, Nifty 50 maintain gains while Pharma stocks are the top losers
First Published: Dec 26, 2022 12:13 PM IST
Note To Readers
Disclaimer: Stocks mentioned in the segment are not recommendations. Investors are advised to carry out due diligence before taking any investment decision.
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