Affle India hits record high; jumps 33% in three days

Affle India was locked in an upper circuit of 10% at Rs 2,803.20, rising for the third consecutive trading session.

Shares of Affle India have jumped 33% in three trading sessions from its previous closing low of Rs 2106.15 on 20 August 2020. The counter was locked in an upper circuit of 10% for third straight day.

Affle India hit a record high of Rs 2,803.20 in intraday trade today. The stock trades 261% above its 52-week low of Rs 775.7 hit on 26 August 2019.

On the technical front, the stock's RSI (relative strength index) stood at 88.116. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is currently trading above its 50-day, 100-day and 200-day simple moving averages placed at 1784.20, 1578.76 and 1579.81 respectively. These levels will act as crucial support levels in near term.

The company's consolidated net profit jumped 42.3% to Rs 18.77 crore on 20% increase in net sales to Rs 89.77 crore in Q1 June 2020 over Q1 June 2019. Profit before tax came at Rs 20.11 crore in Q1 June 2020, rising 23% from Rs 16.35 crore in the same period last year. EBITDA grew by 20.3% year on year to Rs 22.5 crore in quarter ending June 2020. The company EBITDA margin remained unchanged at 25% in Q1 June 2020. The result was announced on 8 August 2020.

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

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