Exide Inds corrects after hitting 52-week high

18 Nov 2022 , 03:18 PM

Exide Industries surged 9.21% in the past four trading sessions. The stock hit a 52-week high of Rs 188 today, 18 November 2022. The stock hit a 52-week low of Rs 130.3 on 20 June 2022. On the BSE, 4.28 lakh shares were traded in the counter so far compared with average daily volumes of 6.83 lakh shares in the past two weeks. The stock had outperformed the market over the past one month, rising 18.43% compared with 3.86% rise in the Sensex. The scrip outperformed the market in past one quarter, gaining 15.11% as against Sensexs 3.09% rise. The scrip had also outperformed the market in past one year, climbing 4.74% as against Sensexs 3.11% rise. On the technical front, the stocks RSI (relative strength index) stood at 70.79. 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 20-day, 50-day and 100-day simple moving average (SMA) placed at 171.12, 165.18 and 159.31, respectively. Exide Industries is primarily engaged in the manufacturing of storage batteries and allied products in India. Its consolidated net profit rose 22.8% to Rs 241.20 crore on 13.3% jump in revenue from operations to Rs 3,841.13 crore in Q2 FY23 over Q2 FY22. Powered by Capital Market – Live News