Indian Indices Snap 3-Day Winning Streak To End Flat; Sun Pharma & BPCL Among Top Losers

Dipali Goenka, MD and CEO of Welspun India said,

  • Welspun has always pioneered innovation and aimed to set global benchmarks for excellence. I am delighted that Welspun India is the first Indian Company to receive US FDA 510(k) clearance for its 3 Ply Surgical Masks.

    This is a remarkable validation of our philosophy of keeping 'people ahead of everything' and we will channelize the momentum to further take the quality of healthcare products a notch higher at the global stage.

The company said that its 3-ply surgical masks are made with 100% polypropylene and offer 98% protection against bacterial load.

Simultaneously, the WN-95 FFP 2 respiratory masks have been CE certified, enabling exports to global markets including Europe, Asia Pacific, Middle East, and Africa amongst others.

Welspun India, part of US$2.7 bn Welspun Group, is a global leader in home textiles.

Welspun India share price ended the day up by 1.7% on the BSE.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

This usually happens in a situation where a stock or index has typically been in a bull trend for a while. Spotting this correctly can help you save money.

Moving on to news from the IPO space...

Healthium Medtech Files Draft Papers to Raise Funds via IPO

Healthium Medtech, the country's second-largest medical consumables and surgical sutures company, has filed draft papers with the market regulator to raise funds via initial public offering (IPO). Healthium Medtech is promoted by Apax Partners.

In June 2018, the London-based private equity fund acquired close to 100% stake from the then existing shareholders including TPG Growth, CX Partners, and founding shareholders for around Rs 19.5 bn. TPG Growth owned around 73% while CX Partners held a 12% stake in the firm.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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