Trident hit an upper circuit of 20% at Rs 15.44, extending gains for tenth consecutive session.
The stock has added 78.29% in ten sessions from its recent closing low of Rs 8.66 recorded on 21 December 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 8.76, 7.91 & 6.81, respectively.
The scrip's RSI (relative strength index) stood at 89.265. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
Punjab-based Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.
The company's consolidated net profit dropped 24.4% to Rs 105.69 crore on a 12.4% decline in net sales to Rs 1,173.98 crore in Q2 September 2020 over Q2 September 2019.
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