The company has received an order for Indian raw cotton valuing about $2711682.60 from Bangladesh.
Shares of Axita Cotton have risen 22.54% in seven consecutive trading session.In 2021, the stock surged 330% while the benchmark Sensex has added 21.99% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 68.89. 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 above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 103.75, 96.42 and 72.01, respectively.
Axita Cotton is a manufacturer and exporter of cotton.
Shares of Axita Cotton jumped 4.92% to Rs 121.50 on Friday, 31 December 2021.
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