TVS Motor spurts over 8% in four days

28 Jun 2022 , 12:25 PM

Shares of two-wheeler maker have risen 8.71% in four trading sessions from its recent closing low of Rs 744 on 22 June 2022. In the past one year, the stock has surged 30.14% while the benchmark Sensex rose 0.46% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 75.717. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 701.12, 662.89 and 646.19, respectively. These levels will act as crucial support zones in near term. TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer. The company reported a 5.1% decline in standalone net profit to Rs 274.50 crore for quarter ended March 2022 as against Rs 289.24 crore in quarter ended March 2021. Revenue from operation stood at Rs 5,530.31crore in Q4 FY22 as against Rs 5321.93 crore posted in Q4 FY21, registering a growth of 3.9%. Powered by Capital Market – Live News