Eveready Industries India hit an upper circuit of 20% at Rs 311.70, extending its winning run to fourth consecutive trading session.Shares of Eveready Industries surged 33.46% in four trading days from its previous closing low of Rs 233.55 on 22 February 2021. The stock hit a 52-week high of Rs 311.70 in today. The counter is up 590% from its 52-week low of Rs 45.15 recorded on 25 March 2020.
On the BSE, 6.82 lakh shares were traded in the counter compared with average daily volumes of 42,796 shares in the past two weeks.
Meanwhile, the S&P BSE Sensex was down 1939 points or 3.8% at 49,099.99 on weak global cues.
On the technical front, the stock's RSI (relative strength index) stood at 84.029. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 211.79 and 184.67 respectively. These levels will act as crucial support zones in near term.
Eveready is the country's market leader of batteries and flashlights - selling more than 1.2 billion batteries and nearly 2 million flashlights. On a consolidated basis, the battery maker's net profit declined nearly 46% to Rs 48.8 crore on a 7.2% rise in net sales to Rs 340.28 crore in Q3 FY21 over Q3 FY20.
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