Garware Hi-Tech Films jumps 25% in two days

Garware Hi-Tech Films surged 12.72% to Rs 768.55, extending gains for the second straight session.

Shares of Garware Hi-Tech Films have surged 25.19% in two consecutive sessions.

In the past one year, the stock has risen 17.5% while the benchmark Sensex has added 9.3% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 77.08. 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 and 100-day simple moving average (SMA) placed at 688.95 and 744.61, respectively. It was, however, trading below its 200-day SMA placed at 795.10.

On a consolidated basis, net profit of Garware Hi-Tech Films rose 0.26% to Rs 42.89 crore on 18.13% rise in net sales to Rs 333.90 crore in Q3 December 2021 over Q3 December 2020.

Garware Hi-Tech Films (formerly known as Garware Polyester) is the flagship company of the Garware Group. The company manufactures hi-tech specialty performance polyester films and has its manufacturing facilities at Aurangabad, Maharashtra, India. It is also the market leader and India's only manufacturer of sun control window films for building, safety, and auto applications.

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