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Saturday, January 28, 2023
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Radico Khaitan hits record high; rises for sixth day

Radico Khaitan jumped 7.27% to Rs 694.80, extending gains for the sixth session.

The stock has added 13.84% in six sessions, from its recent closing low of Rs 610.50 on 28 May 2021.

The scrip surged 8.42% to hit the day’s high at Rs 702.25, which is also a record high for the counter.

Share of the liquor maker have zoomed 115.44% from its 52-week low of Rs 322.5 hit on 12 June 2020.

On the technical front, the stock’s RSI (relative strength index) stood at 78.80. 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 daily simple moving average (SMA) placed at 564.22, 552.13 and 493.44, respectively.

Radico Khaitan is one of the oldest and the largest manufacturers of Indian Made Foreign Liquor (IMFL) in India.

On a consolidated basis, the company posted a 91.3% jump in net profit to Rs 73.55 crore on 18.7% rise in net sales to Rs 694.73 crore in Q4 FY21 over Q4 FY20.

The above news was originally posted on www.business-standard.com

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