Astral hits 52-week high; jumps over 9% in three days

8 Sep 2022 , 12:27 PM

Shares of Astral jumped nearly 9.3% in three trading sessions from its previous closing low of Rs 2,304.40 on 5 September 2022. The counter hit a 52-week high of Rs 2,532.70 in intraday today. The stock has surged 59% from its 52-week low of Rs 1,584 recorded on 20 June 2022. In last one month, the stock has jumped nearly 27.7% outperforming the Nifty 50 index which rose 1.27% in the same period. On the daily chart, the stock is trading above its 50, 100 and 200-day simple moving average placed at 1918.02, 1866.72 and 1998.54 respectively. These levels will act as crucial support zones in near term. On the technical front, the stocks daily RSI (relative strength index) stood at 86.666. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. The companys consolidated net profit rose 20.3% to Rs 88.90 crore on a 73.1% rise in net sales to Rs 1,212.90 crore in Q1 FY23 over Q1 FY22. Astral is engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions. Powered by Capital Market – Live News