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The Baseline
20 Jan 2021
Five Interesting Stocks Today

1. Fortis Healthcare: Several institutional investors are decreasing their stake in this private hospital chain. Rakesh Jhunjhunwala, Goldman Sachs Singapore, Vanguard Fund, India Capital Fund, Master Capital Services, Eastbridge Capital, and Reliance Capital decreased their stake in the company during Q3. Since January 8, its stock is down by 8%.

2. Mastek: During the past week, the Nifty50 is down by 2%, and yet this IT-services company’s stock has underperformed the index by 15%. Since reaching a lifetime high on January 6, its stock has dropped 13%.

3. Nava Bharat Ventures: Mutual funds have cut their stake in this alloy manufacturer. In December, mutual funds disposed of 62.4 lakh shares in the company, decreasing their holding by 48% on a month-on-month basis.

4. Bajaj Finance: Brokers have turned cold on this NBFC. In the past month, two brokerages - Axis Direct and Prabhudas Lilladher have downgraded their rating on the stock to ‘Sell’ and ‘Accumulate.’ The average broker target price is 13% lower than its current price.

5. UPL: This agrochemical company’s stock price rose by 15% pushing above its 50-day, 100-day, and 200-day exponential moving average (EMA). The price rise has also pushed its relative strength index (RSI) over 70, now in the overbought zone.
 

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