DCM Shriram declined 6.02% to Rs 338.65 on profit taking after a recent steep rally.
Shares of DCM Shriram soared 15.21% in the past two trading sessions to settle at Rs 360.35 yesterday, 25 November 2019, from its close of Rs 312.75 on 21 November 2019.
Meanwhile, the S&P BSE Sensex was up 53 points or 0.13% to 40,941.98.
The stock was trading in the range of Rs 337.95 to Rs 356.90 so far during the day.
On the technical front, the stock's RSI (relative strength index) stood at 45.728. 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 50-day moving average (DMA) placed at Rs 376.52 and 200-DMA placed at Rs 430.68.
DCM Shriram's consolidated net profit fell 29.5% to Rs 118.94 crore on 2.9% increase in net sales to Rs 1,744.90 crore in Q2 September 2019 over Q2 September 2018.
DCM Shriram is engaged in the business of fertilizer, sugar and caustic soda.
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