Tai Industries hit an upper circuit limit of 10% to Rs 70, extending gains for the sixth trading session.
Shares of Tai Industries have rallied 129.51% in six consecutive sessions. The rally was supported by the company's robust Q3 earnings announced during market hours on 11th February 2022.Net profit of Tai Industries soared to Rs 1.92 crore in Q3 December 2021, steeply higher than Rs 0.06 crore in Q3 December 2020. Net sales rose 20.85% to Rs 79.99 crore in Q3 December 2021 over Q3 December 2020. Profit before tax (PBT) soared to Rs 2.62 crore in Q3 December 2021 as against Rs 0.41 crore in Q3 December 2020.
Tai Industries is engaged in the marketing of the 'DRUK' brand of fruit products. The brand has a range of packaged fruit and vegetable products such as processed fruits, vegetables, jams, squashes, pickles, fruit slices, corn flakes. The other sector that Tai Industries has forayed into is the marketing of mineral products, particularly calcium carbide, ferro-silicon and charcoal, manufactured by its group companies in Bhutan.
In the past one year, the stock has surged 586.27% while the benchmark Sensex has added 13.05% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 95.59. 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 48.79, 39.81 and 35.15, respectively.
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