Jio has delayed the launch of its ultra-low-cost smartphone it is developing with Google, to Diwali, possibly due to semiconductor shortages that the industry is facing.
On the technical charts, the RSI of the stock stood at 50.36.
A total of 437 shares changed hands on the counter till 12:50PM (IST).
As of 30-Jun-2021, promoters held 66.33 per cent stake in the company, while FIIs held 19.65 per cent and domestic institutional investors had 0.82 per cent.
The stock quoted a 52-week high price of Rs 430.25 and a 52-week low of Rs 251.4.
On the technical charts, the 200-day moving average of the stock stood at Rs 1933.47.
"No one can always be in 100% cash but at these levels, investors who can be patient should have at least 25% in cash and for people who can be more patient, even more than that."
Gold futures on MCX were up 0.21 per cent, or Rs 94, at Rs 46,900 per 10 gram. On the other hand, silver futures declined 0.31 per cent, or Rs 194, at Rs 63,398 per kg.
The stock quoted a 52-week high price of Rs 846.6 and a 52-week low of Rs 427.95.
History suggests India’s 125 per cent re-rating-driven rally from March 2020 lows was similar to early market cycles of 2003 (Nifty up 91 per cent) and 2009 (Nifty up 138 per cent) where the market delivered outsized returns from depressed levels, thanks to low cost of capital.
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