Grasim Industries advanced 3.62% to Rs 1,393.35 on BSE, extending gains for the second consecutive session.
Shares of Grasim Industries rallied 4.06% in two trading sessions from a recent closing low of Rs 1,338.90 on Friday, 5 March 2021.
On the technical front, the stock's RSI (relative strength index) stood at 75.892. 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 1134.20 and its 200-day moving average (DMA) placed at 822.10.
Grasim Industries posted 103% jump in consolidated net profit to Rs 1,384 crore on 13% rise in revenue from operations to Rs 20,986 crore in Q3 FY21 over Q3 FY20.
Grasim Industries is a leading diversified player with leadership presence across many sectors. It is a leading global producer of Viscose Staple Fibre, the largest Chlor-Alkali, Linen and Insulators player in India.
The scrip hit a 52-week high of Rs 1,408.50 during intraday trade. The stock has surged 270.65% from its 52-week low of Rs 380 hit on 25 March 2020.
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