Multibagger stock under Rs 50: This small cap stock rallied more than 1800 per cent! Is it ready for next up move?
Multibagger stock under Rs 50: This small cap stock rallied more than 1800 per cent! Is it ready for next up move?
As of December 2022, Foreign institutional Investors (FIIs) and Domestic institutional Investors (DIIs) hold 4.71 per cent and 10.2 per cent stake of the company respectively.
The broader markets remained under pressure on Thursday amid poor global sentiment. However, one stock that witnessed strong buying interest has surged over 11 per cent! Belonging from the plastic products industry, the scrip has rallied 1800 per cent from the covid lows which has attracted investors' attention.
The small cap company rallied 9 per cent; FIIs hold 14 per cent stake of the company. Do you own it?
Company has delivered good profit growth of 79.4 per cent CAGR over last 5 years.
Technically, the stock has registered a breakout from 2 months consolidation range of Rs. 287 on higher side and Rs. 252 on lower side. Stock surged 9 per cent with volumes around 3 million shares in the first half of the session only and is currently trading at Rs. 285 level. Closing around day’s high will confirm the breakout.
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Strong volume of nearly three times the 10-weeks average volume of 42.54 lakh per week, highlighting larger participation in the direction of trend.
The stock is up over 11 per cent on Friday on back of huge spurt in the volumes. So far, total traded volume has surpassed its prior trading session volume and moreover, it is highest since September 2022.
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Talking about the technical view, the stock has witnessed breakout of the tight range with a massive volume and closed above the moving average ribbon and its key short-term moving averages.
This Tata Group stock, having healthy dividend payout, witnessed a powerful breakout; watch out!
The daily 14-period RSI has witnessed a breakout of a consolidation pattern and with this, it moved above its prior swing high and is in bullish territory.
Amidst all this, there is one stock that has witnessed a breakout of cup & handle-like pattern. And what’s important is the fact that this stock belongs to the prestigious Tata Group! Moreover, the company has a good dividend track record and consistently declared dividends for the last five years.
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On the daily chart, the Nifty has formed a bullish candle that resembles the piercing formation.
Going ahead, the stock selection is going to be of paramount importance and hence, we have chalked down a list of stocks that are likely to witness a breakout.
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The relative price strength (RS) rating is as high as 87, showing outperformance compared to the broader market. In short, the stock is in a strong bull trend.
In the last financial year, the company reduced its debt from Rs 583 crore to Rs 315 crore; so, the net debt reduction is about Rs 268 crore. The debt-to-equity stands at 0.17x.
This PSU bank stock jumps 8 per cent; know whats interest-ing here!
The volume recorded for the day is the highest single-day volume in the last two months.
It is not a usual sight to see a backbencher topping the class but this actually took place on D-Street on Thursday. The backbencher sector is none other than Nifty PSU Bank
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The stock has climbed over 4 per cent despite adverse conditions on D-Street.
Interestingly, despite correcting over 20 per cent from the highs, the stock did not enter into the oversold region on RSI. Recently, it has seen a crossover of a nine-period average thereby, supporting the positive bias.
This single-digit PE and attractive-dividend yield power stock is on the verge of a multi-month breakout!
Sustaining above the levels of Rs 101-Rs 103 would result in the breakout.
Interestingly, the stock, in the first hour of the trading itself, has witnessed a huge surge in the volume as it managed to cross a volume of 25 lakh shares.
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Interestingly, the stock is also meeting Warren Buffett’s rules of investing.
The stock jumped more than 4 per cent on Wednesday and as a result, it has logged a fresh 52-week high.
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As the stock is trading at a 29-month high, it is also trading above its important short as well as long-term moving averages.
One such sector was Nifty PSU Bank, which gained as much as 16.45 per cent and emerged as the top-performing sector of the month. Interestingly, all the stocks of this sector have managed to deliver positive returns in the month of January. However, one stock that commands special attention is