Essel Propack jumped 4.79% to Rs 294.20, extending gains for the fifth session in a row.
Shares of Essel Propack rallied 10.66% in five trading sessions from its recent closing low of Rs 265.85 on Thursday, 13 August 2020. The scrip hit an all-time high of Rs 299.70 in intraday today.
On the technical front, the stock's RSI (relative strength index) stood at 78.673. 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 moving average (DMA) placed at 211.29 and its 200-day moving average (DMA) placed at 177.49.
Essel Propack's consolidated net profit rose 14% to Rs 45.62 crore on a 17.7% increase in net sales to Rs 741.49 crore in Q1 FY21 over Q1 FY20.
Essel Propack is the largest global specialty packaging company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space.
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