H.G. Infra hits 52-week high; jumps 9% in four days

H.G. Infra Engineering advanced 2.19% to Rs 786.10, extending its gaining streak for the fourth consecutive trading session.

Shares of the civil construction jumped 9.25% in four trading sessions from its previous closing low of Rs 719.55 on 2 March 2023.

The stock hit its 52-week high of Rs 797.55 today. The counter has surged 54.58% from its 52-week low of Rs 508.55 hit on 11 May 2022.

On the BSE, 11,681 shares were traded in the counter so far compared with average daily volumes of 18,697 shares in the past two weeks.

The stock had outperformed the market over the past one month, rising 19.63% compared with 0.52% rise in the Sensex.

The scrip outperformed the market in past one quarter, jumping 35.36% as against Sensex's 3.55% increase.

The counter had also outperformed the market in past one year, advancing 41.35% as against 12.96% jump in Sensex.

On the technical front, the stock's daily RSI (relative strength index) stood at 67.790. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

In daily chart, the stock is trading above its 50, 100 and 200 days simple moving average (SMA) placed at 691.17, 633.82 and 603.45 respectively. These levels will act as crucial support zones in near term.

H.G. Infra Engineering is engaged in engineering, procurement and construction (EPC), maintenance of roads, bridges, flyovers and other infrastructure contract works.

The company's consolidated net profit rose 30.2% to Rs 130.89 crore on 23.7% jump in net sales to Rs 1184.97 crore in Q3 FY23 over Q3 FY22.

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