DCM Shriram jumped 13.24% to Rs 354.45, extending recent gains on strong buying support.
Shares of DCM Shriram surged 13.33% in two trading sessions to its current trading price of Rs 354.45 from its recent closing low of Rs 312.75 on Thursday, 21 November 2019.
On the BSE, 45,616 shares were traded in the counter so far, which is almost 10 times higher than its average daily volumes of 4,608 shares traded in the past two weeks. The stock was trading in a range of Rs 317.15 to Rs 367.70 so far during the day.
On the technical front, the stock's RSI (relative strength index) stood at 52.5. 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 and 200-day moving average (DMA) placed at Rs 377.88 and Rs 430.49 respectively.
DCM Shriram's consolidated net profit fell 29.5% to Rs 118.94 crore on 2.9% increase in net sales to Rs 1,744.90 crore in Q2 September 2019 over Q2 September 2018.
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DCM Shriram is engaged in the business of fertilizer, sugar and caustic soda.
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