JSW Energy: Shares of the energy company rose 6.6%, making them the best performer among its peers.
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- Trading volume was 6.65 million shares, triple the 20-day average of 2.31 million shares for this time of day.
- Analysts have five buy, five hold, and four sell recommendations on the stock.
- The price target of Rs 92.67 represents a 26% decrease from the last price
- The relative strength index on the stock was above 70, indicating it may be overbought.
Indian Manufacturing Sector Heads Towards Stagnation In May
India’s manufacturing activity continued to improve in May but showed a significant loss of growth momentum.
In May, the manufacturing Purchasing Managers’ Index stood at 50.8 vs 55.5 in April, according to data from IHS Markit. Manufacturing PMI of above 50 indicates expansion, while a score of below 50 indicates contraction.
Pollyanna De Lima, Economics Associate Director at IHS Markit said the Indian manufacturing sector is showing increasing signs of strain as the Covid-19 crisis intensifies.
Key gauges of current sales, production and input buying weakened noticeably in May and pointed to the slowest rates of increase in ten months. In fact, all indices were down from April.
That said, the detrimental impacts of the pandemic and associated restrictions seen in the manufacturing sector are considerably less severe than during the first lockdown when unprecedented contractions had been recorded.