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Bannari Amman Sugars hits 52-week high; spurts 23% in three days

Capital Market 

Bannari Amman Sugars surged 14.26% to Rs 2206.90, extending gains for the third consecutive session.

Shares of Bannari Amman Sugars have surged 23.21% in three sessions from its recent closing low of Rs 1,791.20 on 14 September 2021.

The stock hit a 52-week high of Rs 2,279.90 in intraday today. It has jumped 72.06% from its 52-week low of Rs 1,282.60 hit on 21 September 2020.

In the past one month, the stock has surged 20.30% as against 5.77% rise in the Sensex. It has soared 68.28% in the past one year compared with 51.39% surge in the Sensex.

On the technical front, the stock's RSI (relative strength index) stood at 70.81. 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 1841.89 and 200-day SMA at 1838.76.

Net profit of Bannari Amman Sugars declined 60.66% to Rs 5.04 crore on 14.51% rise in net sales to Rs 373.07 crore in Q1 June 2021 over Q1 June 2020.

South India-based Bannari Amman Sugars is engaged in manufacturing and trading sugar, power, alcohol and granite products.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, September 17 2021. 14:26 IST