Trident rose 0.55% to Rs 55, extending gains for sixth day in a row.
The stock has added 23.18% in six sessions, from its recent closing low of Rs 44.65 recorded on 3 December 2021.
On a year-to-date (YTD) basis, the stock has zoomed 455.67% while the benchmark Sensex has added 22.32% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 66.443. 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 simple moving average (SMA) placed at 42.29, 31.97 and 23.70, respectively.
Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.
On a consolidated basis, net profit of Trident rose 122% to Rs 234.59 crore on 44.1% rise in net sales to Rs 1,691.59 crore in Q2 September 2021 over Q2 September 2020.
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