Big movers on D-Street: What should investors do with South Indian Bank, HUL and Sobha?

June 2, 2023

Indian equity benchmarks closed lower due to profit booking and a slump in the global markets. The auto and IT sectors gained slightly but banking, financials, and metal stocks fell. South Indian Bank rose by 9.57%, HUL gained 0.88% and Sobha rose nearly 7%. Kotak Securities’ VP of Technical Research, Amol Athawale, suggests buying South Indian Bank above Rs 18 as the stock has formed a promising price volume breakout formation. Athawale also recommends buying HUL on dips and buying Sobha as the stock is comfortably trading above the 20-day SMA.

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