Chart check: Oil India, ONGC and LTIMindtree gave positive 200 DEMA breakout

As Indian markets continued to hover around 200 DEMA levels, a few stocks like ONGC, LTIMindtree, and Oil India gave positive breakouts on their 200 DEMA levels. The 200 DEMA levels.

Oil India

Oil India is engaged in oil exploration and production of crude oil and natural gas. It was accorded Maharatna status in 2023. The company's operations cover Assam, Arunachal Pradesh, Mizoram, Tripura, Nagaland, Odisha, Andhra Pradesh, and Rajasthan, as well as offshore areas in Andaman, Kerala-Konkan, and KG shallow waters. In the trailing twelve-month period, the stock price has gained over 88%.

ONGC

Oil and Natural Gas Corporation is India’s leading oil and natural gas extraction company, contributing 71% of the country’s total production. Shares of ONGC have gained nearly 15% in 2024.

LTIMindtree

LTIMindtree Limited offers an extensive range of IT services like agile, analytics and information management, application development, maintenance and outsourcing, enterprise solutions, infrastructure management services, testing, digital solutions, and platform-based solutions to clients in diverse industries. LTIMindtree share price has delivered negative 11% returns in 2024, underperforming its benchmark of NIFTY IT index by a wide margin.

BEML

BEML Limited (formerly Bharat Earth Movers Limited) was established in May 1964 as a public-sector undertaking to manufacture rail coaches, spare parts, and mining equipment at its Bangalore complex. Currently, the company operates in three major Business verticals: Mining and construction, defence, and rail and metro. Shares of BEML have delivered 43% returns in 2024.

REC ltd

REC Limited (formerly Rural Electrification Corporation Limited) is a leading infrastructure finance company. Its business activities involve financing projects in the complete power sector value chain, be it generation, transmission, or distribution. Shares of REC Ltd have delivered 23% returns in 2024.

Aurobindo Pharma

Aurobindo Pharma Limited remains one of the fastest-growing Active Pharmaceutical Ingredients (API) manufacturing companies. Through seamless vertical integration, its API business has ensured the profitability and growth of its formulation business. Aurobindo Pharma has gained 23% in 2024.