Godfrey Phillips hits record high, spurts 27% in seven days

Godfrey Phillips India advanced 2.45% to Rs 6,843.45, extending gains for the seventh consecutive trading session.

Shares of the Godfrey Phillips India surged 26.60% in seven trading sessions from its recent closing low of Rs 5,405.20 on 23 August 2024.

The stock hit an all-time high of Rs 6,874.95 today. The counter has soared 243.04% from its 52-week low of Rs 1,994.90 hit on 26 October 2023.

On the BSE, 10,931 shares were traded in the counter so far compared with average daily volumes of 24,699 shares in the past two weeks.

The stock had outperformed the market over the past one month, rising 63.48% as against Sensex's 1.99% increase.

 

The scrip had outperformed the market in past three months, surging 75.70% as against 11.67% rise in Sensex

The counter had also outperformed the market in past one year, soaring 221.35% as against Sensex's 26.31% surge.

On the technical front, the stock's daily RSI (relative strength index) stood at 71.332. 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 6,149.44, 5,756.51 and 5,007.21, respectively. These levels will act as crucial support zones in near term.

Godfrey Philips has business presence in manufacturing of cigarettes, chewing products & tobacco products, trading of cigarettes, tobacco products, tea & other retail products, trading & distribution of vaping products, acquisition of securities and real estate development.

The company reported 10.2% decline in consolidated net profit to Rs 228.56 crore in Q1 FY25 as against Rs 254.45 crore recorded in the same period a year ago. However Revenue from operations grew by 12% year on year to Rs 1,158.22 crore in the quarter ended 30 June 2024.

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