Jindal Stainless Ltd plans to invest ₹100 crore in Rathi Super Steel over the next two years to increase its offerings in the infrastructure space. The company aims to increase Rathi Super Steel's production capacity and improve the quality of the plant to cater to the infrastructure segment.

On September 14, Thursday, StockEdge identified over 40 stocks in the overbought zone, and ETMarkets selected 10 of them for a closer look, providing insights for potential investors

The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout. It is one or two working days before the record date.

Jindal Stainless Ltd (JSL) on Friday said it supplied high-strength alloy steel grade to ISRO which was used in Chandrayaan-3 mission. The specialised alloy steel grade supplied to the Indian Space Research Organisation (ISRO), usually imported from several countries, was meticulously developed over a span of three years with the help of an advanced refining process to meet the stringent quality standards and specifications of the crucial project, JSL said in a statement.

The central government is committed to addressing concerns of the stainless steel industry, Union Minister of State for Steel Faggan Singh Kulaste said on Thursday. The stainless steel industry has urged the government to address issues surrounding the export-import regulations to boost the sector's growth.

The firm's profit rose to Rs 737.6 crore in the June quarter from Rs 507.9 crore in the year-ago period on healthy domestic market growth and a 17 percent increase in exports

"JSL has now acquired the remaining 74 per cent equity stake in JUSL for a cash consideration of Rs 958 crore. The transaction makes JUSL a 100 per cent owned subsidiary of JSL," JSL said. JUSL has been operating the hot strip mill (HSM) of 1.6 million tonne per annum (MTPA) capacity and a cold rolling mill of 0.2 MTPA capacity. It is also undergoing capacity expansion of up to 3.2 MTPA at Jajpur, Odisha.

The RSI is a widely-used technical indicator that measures the strength and velocity of price movements in a stock. It provides a numerical value ranging from 0 to 100, indicating whether a stock is overbought or oversold. RSI is calculated based on the average gain and loss of a stock's closing prices over a specific period, typically 14 days

The trend of the Nifty is likely to remain bullish unless it closes below 18,900.

Commenting on Nifty scaling a new lifetime high, Santosh Meena, Head of Research, Swastika Investmart, said that the 50-stock index surged to an unprecedented all-time high on account of solid fundamentals of the Indian economy and the consistent stability in global cues witnessed recently.

Several stocks in the Nifty Smallcap 100 index have shown an impressive recovery from their 52-week lows, with standout performers including Mazagon Dock Shipbuilders and Jindal Stainless. Mazagon Dock Shipbuilders witnessed a remarkable increase of 429.49%, while Jindal Stainless marked an increase of 233.11%. Other notable recoveries include KEI Industries, Raymond, Cyient, Tanla Platforms, KPIT Technologies, and RBL Bank, demonstrating effective management strategies, resilience, and capacity to navigate market challenges and capitalize on growth opportunities. These recoveries highlight the potential for growth and market resilience within the Nifty Smallcap 100 index.

Nifty Smallcap100 stocks show significant recoveries from their 52-week lows, including KEI Industries, Raymond, Cyient, Tanla Platforms, Jindal Stainless, RBL Bank, Kalyan Jewellers, and Suzlon Energy. The recoveries are a testament to the companies' resilience and growth potential, reflecting market participants' renewed confidence in their future prospects.