Big movers on D-Street: What should investors do with Manappuram Finance, Raymond Lifestyles and 360 One Wam?
Sensex and Nifty closed lower on Monday due to a sharp fall in Kotak Mahindra Bank and relentless foreign fund outflows.
Stocks that were in focus include names like Manappuram Finance, which rose 4.55%, Raymond Lifestyles, which gained 2.2%, and 360 One Wam, whose shares jumped 3.3% on Monday.
Here's what Ameya Ranadive CMT CFTe, Sr Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.
Manappuram Finance
Manappuram Finance is currently trading at Rs 148, having plunged 18% over the last two trading sessions and losing more than 25% of its value since the start of the month. The decline comes after the Reserve Bank of India (RBI) imposed restrictions on four non-banking financial companies (NBFCs), citing material supervisory concerns. This regulatory action has weighed heavily on investor sentiment, causing a steep sell-off.
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