Sundram Fasteners (SFL) said that the credit ratings agency CRISIL had reaffirmed its rating on the short-term debt and commercial paper programme of the company at 'CRISIL A1+'.
The SFL scrip rose 1.40% to currently trade at Rs 719 on the BSE. In the past one year, the stock has zoomed 87.56% while the benchmark Sensex has added 41.98% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 71.111. 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 moving average (DMA) placed at 609.54, 549.76 and 474.98, respectively.
Sundram Fasteners is engaged primarily in manufacture and sale of bolts and nuts, water and oil pumps, sintered products, cold extruded components, hot and warm forged parts, radiator caps and other parts which largely have applications in automobile industry.
The company reported 36.90% jump in consolidated net profit to Rs 142.68 crore on a 34.92% increase in net sales to Rs 1078.51 crore in Q3 FY21 over Q3 FY20.
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