Stock Analysis and Stock Market News 03-05-2022 (3 minutes read)

Stock name: BSE Limited

Pattern: Pole and Flag

Time frame: Daily

Observation: The stock has formed a pole and flag pattern on a daily time frame and has broken out of the same. However, selling has been seen from the upper levels after breakout and yesterday a Doji has been formed, indicating indecision in the markets.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

• Asian Granito India Limited is coming up with a rights issue at a price of Rs. 63 per share. Even if you did not hold the shares on 12^th April 2022 (the record date), you can still apply to this rights issue by purchasing the rights entitlement from open market upto 5^th May 2022 and then can subscribe to the rights issue till 10^th May 2022.

• HDFC Ltd. on 2^nd May reported its results. The standalone net profit is Rs.3,700 crore for the March quarter, up 13.5 per cent from Rs.3,260 crores a quarter ago. Its board has recommended a dividend of Rs.30 per equity share for the year ended 31 March 2022.
• Ajanta Pharma Limited will convene a board meeting on 10^th May 2022 to discuss and decide on the issuance of bonus shares, subject to the approval of the shareholders.