Intellect Design Arena adds over 34% in six days

Intellect Design Arena surged 18.61% to Rs 618.95, extending gains for the sixth day.

On the BSE, 4.19 lakh shares of the company were traded in the counter so far, which is 9.98 times jump as compared to the average trading volume of 42,238 shares in the past three months.

The stock has added 34.51% in six sessions from its recent closing low of Rs 460.15 on 5 March 2021. In the past one year, the stock has zoomed 797.59% while the benchmark Sensex has added 60.80% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 83.888. 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 daily simple moving average (SMA) placed at 402.99, 337.72 and 251.65, respectively.

Intellect Design Arena, a specialist in applying true digital technologies, is the a full spectrum banking and insurance technology products company, across global consumer banking, central banking, global transaction banking (iGTB), risk, treasury and markets, and insurance.

The company reported a consolidated net profit of Rs 80.37 crore in Q3 FY21 compared with net loss of Rs 11.38 crore in Q3 FY20. Net sales during the quarter rose 19.63% YoY to Rs 382.19 crore.

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