GMM Pfaudler gained 2.51% to Rs 3887.85, extending its winning streak for fourth consecutive trading session.GMM Pfaudler has gained 11.37% in just four trading days from its previous closing low of Rs 3491 on 18 May 2020 ahead of its quarterly earnings on Saturday, 23 May 2020.
On a consolidated basis, GMM Pfaudler's net profit surged 74.4% to Rs 21.05 crore on a 18.7% rise in net sales to Rs 155.97 crore in Q3 December 2019 over Q3 December 2018.
On the technical front, the stock's RSI (relative strength index) stood at 70.544. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock trades above its 50 and 100-day moving average (DMA) placed at 3047.68 and 2807.94 respectively.
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