The share touched 52-week high Rs 298.35 and 52-week low Rs 135.55 on 22 September, 2022 and 07 March, 2022, respectively.

NALCO was the second biggest gainer in the futures & options segment, rising 6.5 percent to Rs 78.85 and formed strong bullish candle with healthy volumes. It has seen a breakout of horizontal resistance trend line adjoining November 16 and December 22 this year.

The company on Saturday announced that it has secured a significant order for a carbon capture pipeline project in the United States. "This order is for the supply of 785 miles (1,256 KM) or 100,000 MT (approximately) of high-frequency induction welding (HFIW) pipes, and would be used for transporting captured carbon dioxide," the filing said.

RPG Life Sciences has broken out from the Bullish Flag pattern on the daily chart. Stock has been forming higher tops and higher bottoms on the daily charts. Recently the stock price registered fresh all-time high at Rs 804 and current levels are very near to that level.

Welspun Corp's shares have been in an uptrend for the last six months as they have zoomed about 72 per cent. The scrip has more than doubled investors' wealth in the last one year, with a 110 per cent rise.

The stock has gained 43 percent so far this year and is presently trading close to its 52-week high of Rs 267.50.

Welspun Corp was also in focus, climbing more than 8 percent to Rs 264 and formed bullish candle on the daily charts with above average volumes. On the monthly charts, it has seen a breakout of long downward sloping resistance trend line adjoining January 1, 2008, and May 2, 2022.

The benchmark indices like Nifty and Sensex could consolidate or may witness minor correction in the near term, as there is no support coming in from global equity markets.

In Tuesday's trading session, Kalyan Jewellers India witnessed a long-term downsloping trendline resistance with heavy volume and managed to close above 6 months swing high. There is a breakout of Bullish Flag formation in a shorter time frame that generates further momentum.

Welspun Corp has granted 11 lakh stock options (ESOPs) under 'Welspun Employee Stock Option Plan 2005' to Vipul Mathur, Managing Director and CEO, the company informed the bourses in a separate filing.

The company said commissioning of its blast furnace (BF) and sinter plant, and TMT bars manufacturing facility at Anjar, Gujarat was completed in July 2022.The BF can produce approximately 5,00,000 tonnes of hot metal per annum which will primarily be used for manufacturing pig iron and ductile iron (DI) pipes.

"Every exploration and production company in the world wanted to go green and move to renewables. But the harsh reality is that while renewables is definitely the way forward, they are not yet to replace fossil," said Vipul Mathur, who is also its managing director. Companies and countries did not invest in pipelines and development of oil and gas assets, which are coming back into play, he added.

Stocks of pipe makers such as Jindal Saw, Maharashtra Seamless, Ratnamani Metals, and Welspun Corp, among others, are likely to gain in the mid-to-long term as analysts expect demand revival after four years of struggle. Besides strong domestic demand for water and oil grid pipelines, analysts expect robust orders from the European Union (EU) and the Middle East & North Africa (MENA) region as well.

"Welspun Corp Ltd and Tata Steel Ltd have signed an MoU to jointly work towards developing the framework for and subsequently manufacturing green pipes for the transportation of pure hydrogen and hydrogen blended with natural gas," WCL said in a statement.

While Welspun Corp Ltd, the flagship company of Welspun Group, is a leading welded line pipe manufacturer, Tata Steel is among the top three steel making companies in India.

"WCL is on an aggressive roadmap towards strengthening its water infrastructure portfolio both in India and globally. The receipt of this new contract by our associate company, EPIC, is a testament to that, as we continue to solidify our leadership position in the Saudi market," company's MD & CEO Vipul Mathur said.

“Investors should wait for some more dip in the metal sector and once the situation settles down, they should start accumulating fundamentally good scripts for long term gains,” said Mohit Nigam, Head - PMS, Hem Securities.

The buyers converged at the stock after heavy selling in the last few days made it appetizing. It still trades down over 13 per cent from issue price of the IPO. The market cap of the firms stands at Rs 5,21,021.69 crore.

ITC has been a marked outperformer amid weak market sentiment in the week gone by. It continued its bullish momentum followed by a breakout from a bullish flag formation.

Vipul Mathur, Managing Director and Chief Executive Officer, Welspun Corp, said the single largest order comes out of the understanding of customers needs, quality orientation and execution track record coupled with modern technology and innovation.

The Nifty Pharma index closed 3.69 per cent up at 13065.5.

In the Nifty50 index, 48 stocks closed in the green, while 2 stocks ended in the red.

In the Nifty 50 index, 48 stocks ended in the green, while 2 stocks closed in the red in today's trade.

In the Nifty pack, 48 stocks closed in the green, while 2 stocks ended in the red.

In the Nifty pack, 48 stocks were trading in the green, while 1 stocks were trading in the red.

In the Nifty 50 index, 48 stocks were trading in the green, while 1 stocks were trading in the red.

The technical indicators have strongly backed the momentum, wherein the MACD (moving average convergence divergence) witnessed a positive crossover affirming the inherent strength in Welspun Corp, said Sameet Chavan of Angel One