Mrs Bector Food Specialities dropped 2.68% to Rs 343.15, extending its losing run to third consecutive trading session.
Shares of Mrs Bector Food have lost 8.5% in three trading days from its previous closing high of Rs 375.15 posted on 16 March 2021. The counter hit a record low of Rs 338 in intraday today. The stock has lost 45.5% from its record high of Rs 629.80 posted on 28 December 2020.In last one month, Mrs Bector has declined nearly 15% compared with 1.8% rise in BSE Small Cap index.
On the technical front, the stock's RSI (relative strength index) stood at 19.498. 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 20-day simple moving average (SMA) placed at 387.06 and its 50-day simple moving average (SMA) placed at 401.41.
Shares of Mrs Bector entered the bourses on 24 December 2020. It was listed at Rs 501 on the BSE, a premium of 73.96% to the initial public offer (IPO) price of Rs 288 per share. The IPO of Mrs. Bectors Food Specialities opened for subscription on 15 December 2020 and closed on 17 December 2020. It was was subscribed 198.02 times.
Mrs. Bectors Food Specialities is one of the leading companies in the premium and mid-premium biscuits segment in North India and a leading premium bakery player in India. The company is the sole / preferred supplier to some of the Largest QSR Franchises, Cloud Kitchens and Multiplexes in India.
The company reported an 85.4% jump in consolidated net profit to Rs 20.67 crore on 11.1% rise in net sales to Rs 225.75 crore in Q3 FY21 over Q3 FY20.
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