Adani Enterp. 2451.15↑22.00(0.91%)
Adani Ports 734.95↓-1.45(-0.20%)
Apollo Hospitals 4926.70↓0.05(0.00%)
Asian Paints 3180.55↓-31.70(-0.99%)
Axis Bank 974.75↑12.65(1.31%)
B P C L 359.45↓-1.65(-0.46%)
Bajaj Auto 4743.40↓-57.25(-1.19%)
Bajaj Finance 7037.15↑27.05(0.39%)
Bajaj Finserv 1466.50↓-0.90(-0.06%)
Bharti Airtel 833.50↓-2.50(-0.30%)
Britannia Inds. 4878.75↑3.70(0.08%)
Cipla 969.25↑3.85(0.40%)
Coal India 227.65↓-0.45(-0.20%)
Divi's Lab. 3428.75↓-70.95(-2.03%)
Dr Reddy's Labs 4666.80↑17.40(0.37%)
Eicher Motors 3581.30↓-76.10(-2.08%)
Grasim Inds 1715.75↑3.80(0.22%)
H D F C 2652.90↓-0.90(-0.03%)
HCL Technologies 1109.75↓-17.00(-1.51%)
HDFC Bank 1610.60↑1.90(0.12%)
HDFC Life Insur. 581.70↓-12.20(-2.05%)
Hero Motocorp 2899.30↓-65.50(-2.21%)
Hind. Unilever 2636.20↓-43.70(-1.63%)
Hindalco Inds. 415.05↓-3.20(-0.77%)
ICICI Bank 938.05↑0.15(0.02%)
IndusInd Bank 1331.05↑27.20(2.09%)
Infosys 1265.95↓-16.85(-1.31%)
ITC 438.45↓-4.45(-1.00%)
JSW Steel 748.50↓-0.30(-0.04%)
Kotak Mah. Bank 1872.00↓-14.50(-0.77%)
Larsen & Toubro 2363.00↑22.70(0.97%)
M & M 1370.65↓-10.40(-0.75%)
Maruti Suzuki 9627.80↓-30.80(-0.32%)
Nestle India 22073.45↓-75.45(-0.34%)
NTPC 182.80↑0.75(0.41%)
O N G C 154.25↓-1.85(-1.19%)
Power Grid Corpn 244.90↑3.25(1.34%)
Reliance Industr 2481.95↓-17.70(-0.71%)
SBI Life Insuran 1232.40↓-6.50(-0.52%)
St Bk of India 578.70↓-9.80(-1.67%)
Sun Pharma.Inds. 983.95↓-3.05(-0.31%)
Tata Consumer 801.00↓-6.10(-0.76%)
Tata Motors 562.30↑2.60(0.46%)
Tata Steel 108.90↓-2.25(-2.02%)
TCS 3209.30↓-27.15(-0.84%)
Tech Mahindra 1063.05↓-8.25(-0.77%)
Titan Company 2876.25↓-0.75(-0.03%)
UltraTech Cem. 8153.25↑53.10(0.66%)
UPL 680.25↓-9.80(-1.42%)
Wipro 397.30↓-2.25(-0.56%)

OFS may trigger sell-off in HAL shares, is it time to accumulate or avoid?

Hindustan Aeronautics shares may dip 20 per cent upon breaking key support

Avdhut Bagkar Mumbai

Web Exclusive Premium

Hindustan Aeronautics must hold ground to abate sell-off

2 min read Last Updated : Mar 27 2023 | 11:34 AM IST

Shares of Hindustan Aeronautics breached 4-week low post the Government of India announced an offer for sale (OFS) at Rs 2,475. Despite hitting fresh historic peak of Rs 2,893 in early march this year, the stock has been performing well since the past few sessions.

The stock conquered earlier peak of Rs 2,792 recently, but failed to attract follow-on buying interest. This led the stock price action to slip under Rs 2,800, with sentiment following the OFS announcement; which offered floor price well below the historic peak, dampened the positive trend further.

While the counter is trading over the critical support of Rs 2,353-mark, its 200-day moving average (DMA), losing strength below 100-DMA and 50-DMA has impacted the short-term sentiment.