Prism Johnson soars on heavy volumes

Prism Johnson surged 8.42% to Rs 131.30 amid large volumes.

On the BSE, over 47.25 lakh shares of the company were traded in the counter as compared with an average trading volume of 0.52 lakh shares in the past three months.

On the NSE, over 55.38 lakh shares of the company changed hands in the counter as compared with an average trading volume of 3.72 lakh shares in the past three months.

Prism Johnson (PJL) is an integrated building materials company, with wide range of products such as cement, ready-mixed concrete, tiles and bath products. The PJL group currently has four divisions - cement, H & R Johnson (HRJ, tiles business), ready mix concrete and RQBE Gen Insurance Co.

The company had reported a consolidated net loss of Rs Rs 66.24 crore in the quarter ended September 2022 as against net profit of Rs 38.02 crore during the previous quarter ended September 2021. Sales rose 10.85% to Rs 1632.81 crore in Q2 FY23 over Q2 FY22.

On the technical front, the stock's RSI (relative strength index) stood at 62.737. 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 simple moving average (SMA) placed at 124.99, 122.71 and 118.87, respectively.

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