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Responsive Inds soars 62% in three sessions

Responsive Industries rose 15.03% to Rs 173.35, extending gains for the third day in a row.

December 31, 2021 11:11 IST | capital market
The stock has surged 62.24% in three consecutive sessions.

In the past one year, the stock has fallen 5.72% while the benchmark Sensex has added 21.93% during the same period.

On the technical front, the stocks RSI (relative strength index) stood at 88.03. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 121.50, 114.87 and 112.82, respectively.

On a consolidated basis, net profit of Responsive Industries declined 62.92% to Rs 6.14 crore on 52.83% rise in net sales to Rs 292.92 crore in Q2 September 2021 over Q2 September 2020.

Responsive Industries manufactures PVC products with three product verticals: vinyl flooring, synthetic leather and luxury vinyl tile.

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