Surya Roshni tumbles 20% in nine days

3 Jan 2022 , 02:16 PM

Shares of Surya Roshni have fallen 19.81% in nine trading sessions.

In the past one year, the stock has surged 45.23% while the benchmark Sensex has added 23.56% during the same period.

On the technical front, the stocks RSI (relative strength index) stood at 23.33. 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 602.49, 615.76 and 615.35, respectively.

On a consolidated basis, net profit of Surya Roshni rose 5.7% to Rs 44.32 crore on 41.6% rise in net sales to Rs 1,945.66 crore in Q2 September 2021 over Q2 September 2020.

Surya Roshni is engaged in manufacturing of lighting & consumer durables business like fans and home appliances. It also has a stronghold in the steel pipes & strips business. The company is the largest manufacturer of GI pipes in India and is the largest exporter of ERW pipes.

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