Kalpataru Power hits 52-week high; jumps 7% in five days

22 Nov 2022 , 11:21 AM

Shares of Kalpataru Power Transmission rallied 7.31% in five trading sessions from its previous closing low of Rs 483.10 on 15 November 2022. The stock hit its 52-week high of Rs 522 today. The counter has jumped 56% from its 52-week low of Rs 332.30 hit on 11 May 2022. On the BSE, 8,464 shares were traded in the counter so far compared with average daily volumes of 15,000 shares in the past two weeks. The stock had outperformed the market over the past one month, advanced 11.04% compared with 2.4% rise in the Sensex. The scrip outperformed the market in past one quarter, surged 43.88% as against Sensexs 3.78% rise. The counter had also outperformed the market in past one year, rose 27.23% as against 4.79% increase in Sensex. On the technical front, the stocks daily RSI (relative strength index) stood at 68.666. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. In daily chart, the stock is trading above its 50, 100 and 200 days simple moving average (SMA) placed at 451.01, 412.61 and 392.65 respectively. These levels will act as crucial support zones in near term. Kalpataru Power Transmission is one of the largest specialized EPC companies engaged in power transmission & distribution, oil & gas pipeline, railways and civil infrastructure business. The company is currently executing projects in over 30 countries and has global footprints in 67 countries. The comapanys consolidated net profit rose 18.1% to Rs 98 crore on 7% rise in net sales to Rs 3,798 crore in Q2 FY23 over Q2 FY22. Powered by Capital Market – Live News