Wipro & Sheela Foam Stocks spotted as Breakout Candidates. Wipro displays a Bullish Engulfing pattern in today's trading session , breaking above crucial Moving Averages with a Long Buildup, hence making to the list of breakout stock for today. Meanwhile, Sheela Foam hits a 5-week high, also breaking Key Moving Averages, suggesting a bullish breakout.

#wipro #wiprostocks #wiprosheela #etnow #etnownews
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Did You Spot These BreakOUT Charts Today? Wipro & Sheela Foam | ET Now

Here are the stocks to watch in today’s trade..

Stocks To Watch: RIL, Tata Steel, Mahindra & Mahindra, Wipro HDFC AMC, Sheela Foam, DB Realty

Sheela Foam Consolidated June 2023 Net Sales at Rs 645.09 crore, down 11.53% Y-o-Y

Shares of Sheela Foam surged as much as 15 per cent during the early trading session on Tuesday on the back of acquisition news by the mattress maker. Sheela Foam has announced the acquisition of a majority stake in Kurlon Enterprise and a significant stake in Furlenco's parent company.The home comfort products manufacturer is going to acquire 94.66 per cent shareholding in Kurlon Enterprise at an equity valuation of Rs 2,150 crores; subject to customary working capital, debt and debt like items and other adjustments, if any. The indicative time period for the completion of the acquisition is by or before November 30, 2023, the company said.

#businesstodaytv #businessnews #kurlon 

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Listen In What Rahul Gautam, CMD, Sheela Foam Ltd As Sheela Foam Acquires Kurl-on | Watch

Indian indices opened on a strong note today with Nifty around 19800.


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CNBC TV18 LIVE | Market Opening | Indices Open At Fresh High; LTIMindtree, Sheela Foam In Focus

ICICI Securities is bullish on Sheela Foam recommended buy rating on the stock with a target price of Rs 1400 in its research report dated July 18, 2023.

Buy Sheela Foam; target of Rs 1400: ICICI Securities

Stocks that were in focus include names like Medplus Health Services which hit a fresh 52-week high, Sheela Foam rose more than 4% with strong volumes, and NMDC Steel closed with gains of nearly 4% to hit a fresh 52-week high.

Breakout Stocks: How Medplus Health, Sheela Foam and NMDC Steel are looking on charts for Wednesday’s trade

The acquisition will enable Sheela Foam to become an undisputed market leader and accelerate Sheela Foam’s growth & enhance profitability.

Sheela Foam Soars 15% On Buying Majority Stake in Kurlon, Furlenco Acquisition; Details - News18

Sheela Foam’s share price rose 8.3% to ₹1,283 after acquiring 94.66% of Kurlon Enterprise for ₹2,150 crore and 35% of Furlenco for ₹300 crore. The move has been well-received by investors.

Sheela Foam’s share price surges on Kurlon buy

The company is buying 94.66% stake in Kurlon for Rs 2,150 crore and 35% in Furlenco for Rs 300 crore.

Sheela Foam Shares Jump 15% After Acquiring Controlling Stake In Kurlon

The Street believes the deal with Kurlon is financially attractive while the acquisition of Furlenco will allow Sheela Foam to enter the branded furniture market and facilitate cross-selling between the two companies.

Sheela Foam Ltd

Sheela Foam Ltd

Scorecard

News & Opinions

News Video

Did You Spot These BreakOUT Charts Today? Wipro & Sheela Foam | ET Now

Stocks To Watch: RIL, Tata Steel, Mahindra & Mahindra, Wipro HDFC AMC, Sheela Foam, DB Realty

Sheela Foam Consolidated June 2023 Net Sales at Rs 645.09 crore, down 11.53% Y-o-Y

News Video

Listen In What Rahul Gautam, CMD, Sheela Foam Ltd As Sheela Foam Acquires Kurl-on | Watch

News Video

CNBC TV18 LIVE | Market Opening | Indices Open At Fresh High; LTIMindtree, Sheela Foam In Focus

Buy Sheela Foam; target of Rs 1400: ICICI Securities

Breakout Stocks: How Medplus Health, Sheela Foam and NMDC Steel are looking on charts for Wednesday’s trade