Securekloud Tech hits 52-week high; spurts over 43% in six days

Securekloud Technologies jumped 13.84% to Rs 155.50, extending gains for the sixth day.

The stock has added 43.38% in six sessions from its recent closing low of Rs 108.45 on 23 August 2021. The scrip hit a 52-week high of Rs 161.35 in trade today.

On the technical front, the stock's RSI (relative strength index) stood at 78.6. 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 moving average (DMA) placed at 97.86, 92.84 and 89.58, respectively.

On a year-to-date (YTD) basis, the stock has zoomed 95.69% while the benchmark Sensex has added 19.96% during the same period.

Securekloud Technologies (erstwhile 8K Miles Software Services) is a cloud native company with a combination of products, frameworks and services, designed to solve problems around Blockchain, Cloud, Enterprise Security, Decision Engineering and Managed Services.

The company reported a consolidated net loss of Rs 2.24 crore in Q1 FY22 as against a net loss of Rs 1.13 crore in Q4 FY21. Net sales during the quarter increased by 8.84% QoQ to Rs 90.26 crore.

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