Asahi India Glass snaps nine-day rising streak

Asahi India Glass slipped 0.68% to Rs 360, amid some bit of profit taking.

The stock had gained 13.67% in the past nine sessions to end at Rs 362.45 yesterday, from its recent closing low of Rs 318.85 recorded on 25 June 2021.

The stock is currently trading 3.32% below its 52-week high of Rs 374.90 hit on 6 July 2021. It has zoomed 129.40% from its 52-week low of Rs 158 hit on 16 July 2020.

On the technical front, the stock's RSI (relative strength index) stood at 70.859. 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 322.24, 313.50 and 281.46, respectively.

Asahi India Glass (AIS) is India's leading value-added and integrated glass solutions company and a dominant player both in the automotive and architectural glass segments. The company provides end to end solutions in the entire glass value chain - from the manufacturing of float glass, processing, fabrication to installation services.

The company's consolidated net profit rose 61.11% to Rs 84.63 crore on a 35.88% increase in net sales to Rs 808.80 crore in Q4 FY21 over Q4 FY20.

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