Affle hits all time high; spurts 23% in five days

Affle (India) jumped 10.6% to Rs 1,320, extending its winning run to fifth consecutive trading session.

Shares of Affle have surged nearly 23% in five trading sessions from its previous closing low of Rs 1,075.05 posted on 28 December 2021. The counter hit a record high of Rs 1,903.85 intraday today. The stock has zoomed nearly 87% from its 52-week low of Rs 706 recorded on 18 January 2021.

In last one month, the stock moved 20.3% high outperforming the benchmark Nifty 50 index which added 3% in the same period.

On the technical front, the stock's RSI (relative strength index) stood at 78.833. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 1108.19 and 1050.56 respectively. These levels will act as crucial support zones in near term.

Affle (India) is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising.

The company's consolidated net profit jumped 77.2% to Rs 47.82 crore on a 103.6% surge in net sales to Rs 274.70 crore in Q2 FY22 over Q2 FY21. On a consolidated basis, EBITDA grew 51.1% to Rs 52.10 crore in Q2 FY22 from Rs 34.50 crore in Q2 FY21.

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