Ponni Sugars (Erode) hit an upper circuit limit of 10% at Rs 291.75, extending gains for the fourth trading session.
Shares of Ponni Sugars (Erode) have risen 36.33% in four consecutive trading session.In the past one year, the stock has surged 76.12% while the benchmark Sensex has added 23.38% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 85.10. 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, 100-day and 200-day simple moving average (SMA) placed at 231.66, 218.17 and 218.23, respectively.
Net profit of Ponni Sugars (Erode) rose 7.79% to Rs 13.01 crore on 15.75% rise in net sales to Rs 89.93 crore in Q2 September 2021 over Q2 September 2020.
Ponni Sugars (Erode) is engaged in the manufacturing and selling of sugar.
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