Talbros Automotive hits record high; spurts 37% in seven days

Talbros Automotive Components jumped 9.88% to Rs 373, extending its winning run to seventh consecutive trading session.

December 01, 2021 12:09 IST | capital market
Shares of Talbros Automotive have surged 37.6% in seven trading sessions from its previous closing low of Rs 271.05 posted on 22 November 2021. The counter hit a record high of Rs 387.15 in intraday today. The stock has zoomed 187.2% from its 52-week low of Rs 129.85 recorded on 22 December 2020.

On the BSE, 93,718 shares were traded in the counter so far compared with average daily volumes of 34,412 shares in the past two weeks. On NSE, 9.12 lakh shares were traded so far as compared to average daily volumes of 1.22 lakh shares in a fortnight.

On the technical front, the stocks RSI (relative strength index) stood at 83.463. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 282.42 and 292.50 respectively. These levels will act as crucial support zones in near term.

Talbros Automotive Components, the flagship manufacturing company of the Talbros Group, manufactures automotive & industrial gaskets in collaboration with Coopers Payen of UK. On a consolidated basis, the company reported an 11.2% rise in net profit to Rs 11.12 crore on a 33% increase in net sales to Rs 143.99 crore in Q2 FY22 over Q2 FY21.

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