RPSG Ventures hits record high; spurts over 44% in eight days

RPSG Ventures hit an upper circuit limit of 20% at Rs 1012.70, extending gains for the eight trading session.

Shares of RPSG Ventures have surged 44.26% in eight sessions from its closing low of Rs 702 on 2 September 2021.

The stock was currently frozen at its record high level. It has jumped 381.09% from its 52-week low of Rs 210.50 hit on 16 October 2020.

In the past one month, the stock has jumped 48.74% as against 5.92% rise in the Sensex. It has surged 306.38% in the past one year compared with 50.39% rise in the Sensex.

On the technical front, the stock's RSI (relative strength index) stood at 93.15. 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 simple moving average (SMA) placed at 793.65 and 200-day SMA at 698.14.

On a consolidated basis, RPSG Ventures reported net profit of Rs 25.26 crore in Q1 June 2021 as against net loss of Rs 3.66 crore in Q1 June 2020. Net sales rose 41.60% to Rs 1610.97 crore in Q1 June 2021 over Q1 June 2020.

RPSG Ventures was incorporated on 7 February 2017 as a wholly owned subsidiary of CESC, a flagship company of the RP-Sanjiv Goenka Group. The company was incorporated with the objective of engaging in the fields of information technology, business process outsourcing and such other ventures.

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