Garden Reach Shipbuilders & Engineers surged 12.40% to Rs 214.90,extending gains for the fourth day in a row.
The stock has added 26.56% in four sessions from its recent closing low of Rs 169.80 on 24 September 2020.
During the same period, the S&P BSE Sensex and the S&P BSE 500 index gained 4.22% and 4.47%, respectively.
Currently, the stock is trading 13.83% below its 52-week high of Rs 249.40 hit on 4 November 2019. It has jumped 104.08% from its 52-week low of Rs 105.30 recorded on 13 March 2020.
On the technical front, the stock is currently trading above its 50-day, 100-day and 200-day simple moving averages (SMA) placed at 199.82, 190.54 & 180.48, respectively.
The scrip's RSI (relative strength index) stood at 64.467. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
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Garden Reach Shipbuilders & Engineers (GRSE) is one of India's leading shipyards, located in Kolkata, West Bengal. It builds and repairs commercial and naval vessels.
The company's net profit slumped 99.4% to Rs 0.15 crore on a 34.5% fall in net sales to Rs 109.96 crore in Q1 FY21 over Q1 FY20.
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