Hatsun Agro hits record high; spurts 31% in six sessions

Hatsun Agro Product jumped 9.38% to Rs 1384.45, extending rally for the sixth session.

Shares of Hatsun Agro have rallied 30.95% in six sessions from its recent closing low of Rs 1,057.20 on 3 September 2021.

According to the media reports, Hatsun Agro Product is likely to see robust foreign inflows as part of the FTSE semi-annual rebalancing which will take place on 17 September 2021.

An increase in investability weightage of a stock in global benchmark indices such as FTSE, prompts buying from passive trackers of the FTSE indices. FTSE, which is a part of the London Stock Exchange Group, is a world-leader in providing global index and analytical solutions.

The scrip hit a record high at Rs 1402.85 in intraday today. It has rallied 156.02% from its 52-week low of Rs 540.75 hit on 25 September 2020.

In the past one month, the stock has jumped 46.04% as against 5.06% rise in the Sensex. It has surged over 118% in the past one year compared with 50.27% rise in the Sensex.

On the technical front, the stock's RSI (relative strength index) stood at 86.697. 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 simple moving average (SMA) placed at 1000.77 and 200-day SMA at 832.87.

Net profit of Hatsun Agro Product rose 3.96% to Rs 58.33 crore on 20.75% increase in net sales to Rs 1544.71 crore in Q1 June 2021 over Q1 June 2020.

Hatsun Agro Product manufactures and markets products that cater to both cooking and consumption, like, milk, curd, ice creams, dairy whitener, skimmed milk powder, ghee, paneer and lots more.

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