The Baseline    
11 Jun 2021
Five Interesting Stocks Today
  1. Firstsource Solutions: After a steady rise and gaining over 36% in just the past month, this software services company has hit a lifetime high in share price. Its RSI and MFI are both in the 80+ range, suggesting that the stock now is strongly overbought. 

  2. Godrej Agrovet: This agribusiness company saw its promoter Godrej Industries purchase 25,058 shares of the company in a market purchase at an average price of Rs. 559.9. The stock's momentum is currently mid-range, and its PE compared to its historical PE is in the neutral zone.

  3. Federal Bank: This Kerala-headquartered bank has multiple analysts bullish on its prospects, receiving six target price upgrades in the last month alone. Analysts at ICICI Securities noted that while the bank has "relatively less" buffer in case of asset quality issues, "valuations for the stock are benign, which factor in near term concerns".

  4. Redington India: This supply chain and distribution company has had a good month on the stock market, beating the Nifty50 by over 40% in share price over the past month. Investors have turned bullish on the stock following the company's strong Q4FY21 performance, which saw a recovery in its India vertical, which jumped 45% YoY.

  5. TV18 Broadcast: After muted interest in the stock throughout 2020, MFs have started noticing this broadcasting company in 2021. Mutual funds have bought shares in April and May this year. The company hit a new 52-week high in the past few days, and has outperformed the Nifty50 index by around 9% over the past year. 

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