Voltas jumped 3.83% to Rs 1,166.25, extending its winning run to eighth consecutive trading session.
Shares of Voltas have rallied 21.78% in eight trading sessions from its previous closing low of Rs 957.65 on 26 August 2021. The counter hit a record high of Rs 1,188.7 in intraday today. The stock has zoomed 84.6% from its 52-week low of Rs 795 recorded on 9 September 2020.The stock had underperformed the market over the past one month, rising 7.14% compared with 7.40% rise in the Sensex. On the BSE, 1.16 lakh shares were traded in the counter so far compared with average daily volumes of 1.15 lakh shares in the past two weeks.
On the technical front, the stock's RSI (relative strength index) stood at 81.204. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 1023.31 and 1013.48 respectively. These levels will act as crucial support zones in near term.
Voltas is India's largest air conditioning company, and one of the world's premier engineering solutions providers and project specialists. Voltas reported 48.8% rise in consolidated net profit to Rs 122 crore on a 36.4% increase in total income to Rs 1860 crore in Q1 FY22 over Q1 FY21.
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