Gayatri Projects hit an upper circuit limit of 10% at Rs 69.65, extending recent sharp gains.
Shares of Gayatri Projects jumped 21.23% in four trading sessions to its current market price of Rs 69.65 from its recent closing low of Rs 57.45 on Monday, 25 November 2019.
Meanwhile, the S&P BSE Sensex was down 366 points or 0.89% to 40,764.27.
On the technical front, the stock's RSI (relative strength index) stood at 75.943. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was currently trading above its 50-day moving average (DMA) placed at Rs 62.46, but it was below its 200 DMA placed at Rs 99.22.
Gayatri Projects reported a consolidated net loss of Rs 21.52 crore in Q2 September 2019 as compared to a net loss of Rs 3.05 crore in Q2 September 2018. The consolidated net sales climbed 14.1% to Rs 697.71 crore in Q2 September 2019 over Q2 September 2018.
Gayatri Projects focuses on roads projects, industrial projects and power projects. The firm is engaged in construction and project activities. It executes civil works, including roads, canals, airport runways, ports and harbors, dams and reservoirs and railways across India.
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