BEML, Mazagon Dock, RCF, RITES were among major losers as the markets faced selling pressure across the board. Among the public sector companies, BHEL, REC, Dredging Corporation also witnessed decline. TopNews has checked technical levels for these stocks for short term traders. Every trade should be conducted with strict stop loss.
BEML: Key levels for retracement include Rs 4248.49 at 23.6% and Rs 4210.75 at 38.2%. Strong support is evident near Rs 4051.00 (100% level).
Mazagon Dock Shipbuilders: Resistance can be observed near Rs 5143.95 (High), while Rs 4870.21 (61.8%) acts as a crucial support.
RCF: The levels Rs 179.05 (23.6%) and Rs 174.05 (61.8%) are significant for tracking potential price movement.
RITES Limited: Support levels at Rs 290.59 (23.6%) and Rs 278.10 (Low) could be crucial for technical analysis.
Fibonacci Levels for Public Sector Stocks
Below is the table with Fibonacci levels calculated for each stock based on their respective high and low prices. These levels are useful for identifying potential support and resistance areas.
Stock
0% (High)
23.6%
38.2%
50%
61.8%
100% (Low)
BEML
Rs 4309.50
Rs 4248.49
Rs 4210.75
Rs 4180.25
Rs 4149.75
Rs 4051.00
Mazagon Dock Shipbuilders
Rs 5143.95
Rs 5039.41
Rs 4974.74
Rs 4922.48
Rs 4870.21
Rs 4701.00
RCF
Rs 182.13
Rs 179.05
Rs 177.14
Rs 175.59
Rs 174.05
Rs 169.06
RITES Limited
Rs 294.45
Rs 290.59
Rs 288.20
Rs 286.27
Rs 284.35
Rs 278.10
1. BEML Limited (Bharat Earth Movers Limited)
Sector: Heavy Engineering and Defense
Overview:
BEML is a leading Indian public sector undertaking that operates across multiple sectors, including defense, railways, and construction. The company manufactures a wide range of products, including military equipment, railway coaches, metro cars, and mining machinery.
Core Business Areas:
Mining & Construction: Earthmoving and mining machinery.
Defense: Equipment like tanks, missiles, and armored vehicles.
Rail & Metro: Metro rail coaches and railway maintenance equipment.
Market Position: BEML plays a pivotal role in India’s infrastructure and defense growth, benefiting from government projects like Atmanirbhar Bharat and increased defense spending.
Notable Recent Developments:
BEML is actively participating in metro projects across India and expanding its defense portfolio to meet domestic and export demand.
2. Mazagon Dock Shipbuilders Limited
Sector: Defense and Shipbuilding
Overview:
Known as the “Shipbuilder to the Nation,” Mazagon Dock is India’s leading shipyard, engaged in building warships and submarines for the Indian Navy and other clients. The company also builds commercial vessels.
Core Business Areas:
Warships: Frigates, destroyers, and corvettes for the Indian Navy.
Submarines: Diesel-electric submarines like the Scorpene class.
Commercial Vessels: Offshore platforms and dredgers.
Market Position: Mazagon Dock benefits from its monopoly in high-end naval shipbuilding, with strong order books from the Indian Navy.
Notable Recent Developments:
The company is working on advanced stealth warships and submarines to boost India’s maritime defense capabilities.
3. RCF (Rashtriya Chemicals and Fertilizers Limited)
Sector: Chemicals and Fertilizers
Overview:
RCF is a government-owned company that plays a critical role in India’s agricultural and industrial sectors. The company manufactures fertilizers, industrial chemicals, and bio-fertilizers.
Core Business Areas:
Fertilizers: Urea, complex fertilizers, and customized micronutrient blends.
Industrial Products: Chemicals like ammonia, nitric acid, and methanol.
Bio-Fertilizers: Eco-friendly alternatives to traditional fertilizers.
Market Position:
RCF is a key supplier of fertilizers to Indian farmers and benefits from government subsidies and programs to boost agricultural productivity.
Notable Recent Developments:
RCF is focusing on green ammonia and other sustainable products as part of India’s green energy initiative.
4. RITES Limited (Rail India Technical and Economic Service)
Sector: Infrastructure Consulting and Engineering
Overview:
RITES is a public sector company under the Ministry of Railways, specializing in infrastructure consulting and project management for railways, highways, airports, ports, and urban transport.
Core Business Areas:
Consulting: Feasibility studies, planning, and design for rail and transport projects.
Export: Rolling stock and railway infrastructure solutions to other countries.
Construction: Project execution for rail infrastructure and urban transport.
Market Position:
RITES is a leader in infrastructure consulting, with strong growth driven by India’s push for better transport and connectivity infrastructure.
Notable Recent Developments:
The company is actively engaged in railway modernization projects and expanding its global footprint by exporting railway solutions.
Company
Sector
Specialization
Recent Focus
BEML
Heavy Engineering
Defense, metro coaches, mining machinery
Metro projects, defense exports
Mazagon Dock
Shipbuilding & Defense
Warships, submarines, commercial vessels
Advanced stealth ships and submarines
RCF
Chemicals & Fertilizers
Fertilizers, industrial chemicals, bio-fertilizers
Green ammonia and sustainable products
RITES
Infrastructure Consulting
Railways, highways, airports, and ports consulting
Railway modernization, global infrastructure consulting