Orient Green Power Company rallied 12.38% to Rs 12.44, extending gains for the fourth trading session.
Shares of Orient Green Power Company surged 37% in four consecutive sessions.On the BSE, 50.83 lakh shares were traded in the counter so far compared with average daily volumes of 30.61 lakh shares in the past two weeks. The stock hit a high of Rs 12.90 and a low of Rs 11.21 so far during the day.
The stock hit 52-week high of Rs 28.75 on 12 January 2022. The stock hit a 52-week low of Rs 6.80 on 21 June 2022.
The stock had outperformed the market over the past one month, surging 48.98% compared with 0.21% fall in the Sensex.
The counter had outperformed the market in past one quarter, advancing 38.53% as against Sensex's 4.05% rise.
The scrip had underperformed the market in past one year, falling 7.85% as against Sensex's 7.94% rise.
On the technical front, the stock's daily RSI (relative strength index) stood at 83.284. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 8.87, 9.07 and 9.89 respectively.
Orient Green Power Copmany is engaged in the business of generation and sale of power using renewable energy sources i.e., wind energy.
The company's consolidated net profit declined 45.1% to Rs 33.84 crore on 6.3% decrease in Net sales to Rs 107.82 crore in Q2 FY23 over Q2 FY22.
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