Stock Recommendations – Neal Bhai Reports [17-05-2022]

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Stock Recommendations by Neal Bhai

  • SJVN: The company has signed a memorandum of understanding for development of 490 MW Arun-4 project in Nepal.
  • Aditya Birla Capital: The company said an independent committee investigating a whistleblower complaint did not find any merit in allegations made against Aditya Birla Sun Life and its employees.
  • KEC International: The company has received new orders of Rs 1,147 crore across its various businesses.
  • Kajaria Ceramics: The company has begun commercial production of ceramic floor tiles and vitrified tiles in manufacturing facilities in Gailpur, Rajasthan, and Chittoor, Andhra Pradesh, respectively.
  • Steel Exchange India: The company approved the proposal of splitting equity shares from face value of Rs 10 to Rs 1 each.
  • Max Healthcare Institute: Approves merger of units Alps, Max Hospitals

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Share Of Gold In India’s Forex Reserves Rises

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7 bold Reports About Gold for 2016 New Year

The share of gold in India’s foreign exchange reserves rose to just over 7% at the end of March 2022, from 5.88% at the end of September 2021, the Reserve Bank of India (RBI) said in a report released on Thursday. At end-March 2022, the RBI held 760.42 metric tonne of gold (including gold deposits of 11.08 metric tonne). “While 453.52 metric tonne of gold is held overseas in safe custody with the Bank of England and the Bank of International Settlements (BIS), 295.82 metric tonne of gold is held domestically,” the central bank said in its half-yearly report on foreign exchange reserves.

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Silver Double Bottom Support Breakpoint, Near the $21.50 key

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Silver

Silver (White Metal) witnessed a short-covering bounce on the last day of the week and recovered a part of the overnight slump to its lowest level since July 2020. The recovery momentum extended through the early European session and pushed spot prices back closer to the $21.00 round-figure mark.

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Gold Price Today: Gold High 51,320 or Silver (July) tops 64,211

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Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices jumped over 1 per cent in India on Thursday, on the back of positive global trends. On Multi Commodity Exchange, gold June futures were ruling 1.12 per cent or Rs 567 higher at Rs 51,320, as against the previous close of Rs 50,610 per 10 gram.

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