K P R Mills hits record high; rises 19% in five days

K P R Mills gained 1.72% to Rs 617.45, extending its winning run to fifth consecutive trading session.

Shares of K P R Mills have surged nearly 19% in five trading sessions from its previous closing low of Rs 519.10 posted on 10 December 2021. The counter hit a record high of Rs 646.60 intraday today. The stock has zoomed 285% from its 52-week low of Rs 160.20 recorded on 21 December 2020.

In last one month, the stock moved 21.5% higher as compared to a 4.8% fall in Nifty 50 index.

On the technical front, the stock's RSI (relative strength index) stood at 74.867. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 498.88 and 447.54 respectively. These levels will act as crucial support zones in near term.

KPR Mill is one of the largest vertically integrated with diversified business focus spanning across yarn, fabrics, garments and white crystal sugar. It makes a range of textile varieties such as readymade knitted apparel; fabrics; compact, melange, carded, polyster and combed yarn.

The company reported a 115% jump in net profit to Rs 242.22 crore on a 27.4% rise in net sales to Rs 1,153.97 crore in Q2 FY22 over Q2 FY21.

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