Ravindra Energy rallied 5% to Rs 162.15, extending gains for the eighteenth consecutive trading session.
The scrip has zoomed 135.2% in eighteen trading sessions, from its recent closing low of Rs 68.94 on 30 August 2024.
The stock hit an all-time high of Rs 162.15 today. The counter has surged 213.88% from its 52-week low of Rs 51.66 hit on 14 December 2023.
On the BSE, 13.57 lakh shares were traded in the counter so far compared with average daily volumes of 2.26 lakh shares in the past two weeks.
The stock had outperformed the market over the past one month, gaining 124.65% as against Sensex’s 4.25% increase.
The scrip had outperformed the market in past three months, jumping 147.94% as against 9.12% rise in Sensex.
The counter had also outperformed the market in past one year, soaring 191.64% as against Sensex’s 29% surge.
On the technical front, the stock’s daily RSI (relative strength index) stood at 93.237. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 88.43, 77.56 and 77.28, respectively. These levels will act as crucial support zones in near term.
Ravindra Energy is principally engaged in selling solar pumps, setting up of solar generation power plant (ground mount & rooftop) & generation and sale of power.
The companys consolidated net profit jumped 64.4% to Rs 5.59 crore despite of 60.7% slide in net sales to Rs 22.71 crore in Q1 FY25 over Q1 FY24.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Sep 25 2024 | 2:54 PM IST
