Hind Rectifiers, NIACL shares zoom up to 14%; here's what Jainam Broking's Kiran Jani says
Indian equity benchmarks remained in the green. Last checked, the 30-share BSE Sensex was last seen up 152 points or 0.19 per cent at 81,489, while the broader NSE Nifty rose 42 points or 0.17 per cent to close at 24,865.
- Jul 30, 2025,
- Updated Jul 30, 2025 12:58 PM IST
Shares of Hind Rectifiers Ltd and The New India Assurance Company Ltd (NIACL) were among the top gainers in Wednesday's trade, surging up to 14 per cent. Kiran Jani, Head of Technical Research at Jainam Broking, shared his outlook on both counters.
"We have seen a sharp uptick in Hind Rectifiers as the stock jumped from Rs 1,300 to Rs 1,950 level in just five sessions. So, we are not supposed to chase this rally, but any dips towards Rs 1,500 would be the buy or accumulation zone," Jani told Business Today.
"Wait for the dip somewhere around Rs 1,500 to Rs 1,600. If you get these dips, then you can accumulate with a strict stop loss below Rs 1,500 for an expected price target of Rs 2,000."
On NIACL, Jani noted that the stock has strong support near the Rs 170 mark. "It went below Rs 170 but rebounded and is now trading above the 200-day moving average. Looking at the price chart, one can create positions with a strict stop loss of Rs 170. If it holds Rs 170, then we can expect price targets of Rs 215–220 in the upcoming time," he added.
On Wednesday, shares of Hind Rectifiers zoomed 14.10 per cent to hit their all-time high of Rs 1,952.95, while NIACL jumped 10.45 per cent to touch a day high of Rs 191.90.
Meanwhile, Indian equity benchmarks remained in the green. Last checked, the 30-share BSE Sensex was last seen up 152 points or 0.19 per cent at 81,489, while the broader NSE Nifty rose 42 points or 0.17 per cent to close at 24,865.
However, broader market indices underperformed the benchmarks, with the Nifty Midcap100 slipping 0.03 per cent and the Smallcap100 index losing 0.25 per cent.
Shares of Hind Rectifiers Ltd and The New India Assurance Company Ltd (NIACL) were among the top gainers in Wednesday's trade, surging up to 14 per cent. Kiran Jani, Head of Technical Research at Jainam Broking, shared his outlook on both counters.
"We have seen a sharp uptick in Hind Rectifiers as the stock jumped from Rs 1,300 to Rs 1,950 level in just five sessions. So, we are not supposed to chase this rally, but any dips towards Rs 1,500 would be the buy or accumulation zone," Jani told Business Today.
"Wait for the dip somewhere around Rs 1,500 to Rs 1,600. If you get these dips, then you can accumulate with a strict stop loss below Rs 1,500 for an expected price target of Rs 2,000."
On NIACL, Jani noted that the stock has strong support near the Rs 170 mark. "It went below Rs 170 but rebounded and is now trading above the 200-day moving average. Looking at the price chart, one can create positions with a strict stop loss of Rs 170. If it holds Rs 170, then we can expect price targets of Rs 215–220 in the upcoming time," he added.
On Wednesday, shares of Hind Rectifiers zoomed 14.10 per cent to hit their all-time high of Rs 1,952.95, while NIACL jumped 10.45 per cent to touch a day high of Rs 191.90.
Meanwhile, Indian equity benchmarks remained in the green. Last checked, the 30-share BSE Sensex was last seen up 152 points or 0.19 per cent at 81,489, while the broader NSE Nifty rose 42 points or 0.17 per cent to close at 24,865.
However, broader market indices underperformed the benchmarks, with the Nifty Midcap100 slipping 0.03 per cent and the Smallcap100 index losing 0.25 per cent.