Bombay Dyeing & Manufacturing declined 2.11% to Rs 150.95 on profit booking after recent steep gains.
The stock jumped 13.58% in the past three trading sessions to end at Rs 154.30 on yesterday, from its recent closing low of Rs 135.85 recorded on 04 September 2023.On the BSE, 1.39 lakh shares were traded in the counter so far compared with average daily volumes of 4.01 lakh shares in the past two weeks.
The stock hit a 52-week high of Rs 160 on 07 September 2023. The stock hit a 52-week low of Rs 53.35 on 28 March 2023.
The stock had outperformed the market over the past one month, rising 37.09% compared with 1.16% increase in the Sensex.
The scrip had outperformed the market in past three months, soaring 74.45% as against Sensex's 5.99% increase.
The counter had outperformed the market in past one year, advancing 44.88% as against 11.6% rise in Sensex.
On the technical front, the stock's daily RSI (relative strength index) stood at 70.199 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, 122.93, 105.81 and 89.63, respectively. These levels will act as support in the near term.
Bombay Dyeing offers linens, towels, home furnishings, leisure clothing, kids wear and a whole range of other products across 350+ exclusive Bombay Dyeing Retail or 2000+ multi-brand stores.
On a consolidated basis, Bombay Dyeing & Manufacturing Company reported net loss of Rs 76.82 crore in Q1 June 2022 as against net loss of Rs 107.91 crore in Q1 June 2021. Net sales rose 59.21% to Rs 606.37 crore in Q1 June 2022 over Q1 June 2021.
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