Radico Khaitan hits record high; rises 5% in three days

Radico Khaitan surged 1.25% to Rs 1,280.35, extending its winning run to third consecutive trading session.

Shares of the liquor maker have surged nearly 5% in three trading sessions from its previous closing low of Rs 1218.90 posted on 3 January 2022. The counter hit a record high of Rs 1,299.85 intraday today. The stock has zoomed 177% higher from its 52-week low of Rs 461.70 recorded on 6 January 2021.

In last one month, the stock moved nearly 21.4% higher as compared to a nearly 4.68% rise in Nifty 50 index.

On the technical front, the stock's RSI (relative strength index) stood at 68.555. 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 1118.95 and 1032.85 respectively. These levels will act as crucial support zones in near term.

The liquor maker posted a 4.3% decline in standalone net profit to Rs 69.26 crore in Q2 FY22 as compared to Rs 72.41 crore reported in Q2 FY21. Revenue from operations increased by 12.5% to Rs 708.83 crore in Q2 FY22 from Rs 630.05 crore in Q2 FY21.

Radico Khaitan is one of the oldest and the largest manufacturers of Indian Made Foreign Liquor (IMFL) in India.

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