Shoppers Stop rose 1.25% to Rs 345 after the company said it opened a new outlet at The Seawoods Grand Central Mall in Navi Mumbai.
With this, the company has now 85 'Shoppers Stop' stores (including five airport stores) under its operations. The announcement was made after trading hours on Friday, 22 November 2019.Shares of Shoppers Stop fell 3.68% in the past two trading sessions to settle at Rs 340.75 on Friday, 22 November 2019, from its close of Rs 353.80 on 20 November 2019.
The stock was trading in the range of Rs 344.50 to Rs 345 so far during the day.
On the technical front, the stock's RSI (relative strength index) stood at 33.011. 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 below its 50-day and 200-day moving average (DMA) placed at Rs 388.71 and Rs 440.61 respectively.
On a consolidated basis, Shoppers Stop reported a net loss of Rs 8.18 crore in Q2 September 2019 compared with a net profit of Rs 11.85 crore in Q2 September 2018. Net sales fell 2.6% to Rs 866.48 crore in Q2 September 2019 over Q2 September 2018.
Shoppers Stop is engaged in the business of retailing a range of household and consumer products through departmental stores.
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