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TeamLease Services snaps 5-day losing streak

TeamLease Services rose 1.41% to Rs 3722.55, amid some bit of bargain buying.

December 27, 2021 1:42 IST | capital market

The stock had declined 11.86% in five sessions to end at Rs 3,677.50 on Friday, from its recent closing high of Rs 4,172.15 recorded on 17 December 2021.

On a year-to-date (YTD) basis, the stock has added 42.22% while the benchmark Sensex has gained 20.26% during the same period.

On the technical front, the stocks RSI (relative strength index) stood at 31. 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 below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 4325.52, 4333.59 and 3930.64, respectively.

TeamLease Services is a human resource company offering a range of solutions to employers for their hiring, productivity and scale challenges.

The company reported a consolidated net loss of Rs 49.34 crore in Q2 FY22 as compared to a net profit of Rs 18.61 crore in Q2 FY21. Net sales during the quarter jumped 34.9% YoY to Rs 1,523.56 crore.

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