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Borosil Renewables gains for third day; adds over 108% in six months

Capital Market 

Borosil Renewables hit an upper circuit of 5% at Rs 590.15, extending gains for third day in a row.

The stock has added 15.75% three sessions, from its recent closing low of Rs 510.20 recorded on 22 November 2021.

In the past six months, the stock has zoomed 108.57% while the benchmark Sensex has added 16.05% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 74.610. 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 411.73, 355.06 and 310.74, respectively.

Borosil Renewables is engaged in the business of manufacturing extra clear patterned glass and low iron solar glass for application in photovoltaic panels, flat plate collectors and greenhouses.

The company's net profit rose 142.60% to Rs 34.11 crore in the quarter ended September 2021 as against Rs 14.06 crore during the previous quarter ended September 2020. Sales rose 40.70% YoY to Rs 160.52 crore in Q2 FY22.

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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: Thu, November 25 2021. 15:12 IST