KNR Constructions jumped 10.09% to Rs 249.20, rising for the second trading session.
Shares of KNR Constructions zoomed 13.3% in two trading sessions from its previous closing low of Rs 219.95 on 28 June 2021. The counter hit a record high of Rs 260 in intraday today. The stock has surged 159.74% from its 52-week low of Rs 100.1 recorded on 30 July 2020.On the BSE, 7.14 lakh shares were traded in the counter so far compared with average daily volumes of 35,241 shares in the past two weeks. In last one month, the stock has moved nearly 20% higher as compared to a 2.25% rise in Nifty 50 index.
On the technical front, the stock's RSI (relative strength index) stood at 77.02. 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 215.72 and 213.44 respectively. These levels will act as crucial support zones in near term.
KNR Constructions provides engineering, procurement, and construction (EPC) services, primarily for the roads and highways segment. The company's consolidated net profit jumped 16.9% to Rs 87.26 crore on 35.7% increase in net sales to Rs 990.52 crore in Q4 March 2021 over Q4 March 2020.
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