Greaves Cotton spurts 32% in four days

Greaves Cotton surged 17.07% to Rs 204.35, extending gains for the fourth trading session.

Shares of Greaves Cotton have risen 32.27% in four consecutive trading session.

In the past one year, the stock has surged 113.54% while the benchmark Sensex has added 23.56% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 77.21. 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 162.34, 150.44 and 147.77, respectively.

On a consolidated basis, Greaves Cotton reported net loss of Rs 23.29 crore in Q2 September 2021, higher than net loss of Rs 22.49 crore in Q2 September 2020. Net sales rose 13.40% to Rs 373.51 crore in Q2 September 2021 over Q2 September 2020.

Greaves Cotton is a diversified engineering company and a leading manufacturer of cleantech powertrain solutions (CNG, petrol and diesel engines), generator sets, farm equipment, e-mobility, aftermarket spares and services.

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