Donear Industries surged 13.27% to Rs 105.85, extending gains for the second trading session.
Shares of Donear Industries have risen 18.27% in two trading sessions.The stock outperformed the market over the past one month, soaring 33.06% compared with 4.35% decline in the Sensex.
The scrip outperformed the market in past one quarter, surging 84.57% as against Sensex's 2.88% rise.
The scrip outperformed the market in past one year, soaring 57.63% as against Sensex's 0.50% rise.
On the technical front, the stock's daily RSI (relative strength index) stood at 69.43. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
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On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 74.21, 65.63 and 59.54, respectively. These levels will act as crucial support zones in near term.
Donear Industries is engaged into two main business segments mainly, manufacturing and dealing in textiles and rental property.
Net profit of Donear Industries rose 148.83% to Rs 9.53 crore on 59.22% increase in net sales to Rs 224.06 crore in Q2 September 2022 over Q2 September 2021.
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