Time Technoplast | Range breakout | Latest stock market news(3 minutes read)

Stock name: Time Technoplast

Pattern: Range breakout

Time frame: Weekly

Observation: The stock was trading in a sideways range from May 2021 and has recently broken out of that range. It has also retested the breakout point and has bounced after the retest and is currently trading above the breakout point. The volume built up is also good here.

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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:

1) Listed telecom service provider Bharti Airtel today unveiled India’s first multiplex in the metaverse. In a press release, Airtel said that the Xstream multiplex is an extension of Airtel’s Xstream Premium offering. It will be a 20 screen platform with access to content portfolios from leading OTT partners available on the application.

2) Adani Ent has partnered with TotalEnergies to create the world’s largest green hydrogen ecosystem, the company said in a stock exchange filing today. Franc's TotalEnergies will be acquiring a 25% minority interest in Adani New Industries (ANIL).

3) Zydus Lifesciences Ltd. has announced share buyback at Rs. 650 per equity share. The buyback of shares will be tender-based on a proportionate basis. The current market price of the share is Rs. 355. The record date is 2 June 2022, meaning the shareholders having the share in their demat account on 2^nd June will only be eligible for the buy-back offer. The offers opens on 23 June 2022.