Campus Activewear hits record high; rises 17% in three trading session

Campus Activewear jumped 7.82% to Rs 495, extending its gaining streak to third consecutive trading session.

Shares of the footwear company surged 17.12% in three trading sessions from its previous closing low of Rs 422.65 on 16 August 2022. The counter hit a record high of Rs 501.60 in intraday today. The stock has climbed 66.75% from its 52-week low of Rs 296.85 recorded on 20 June 2021.

On the BSE, 3.22 lakh shares were traded in the counter so far compared with average daily volumes of 1.25 lakh shares in the past two weeks.

In the past one month, the stock has jumped 31.25% while the benchmark Sensex rose 9.03% during the same period.

On the technical front, the stock's daily RSI (relative strength index) stood at 76.314. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock is trading above its 50, 100 and 200-day simple moving average placed at 375.05, 266.78 and 133.39 respectively. These levels will act as crucial support zones in near term.

Campus Activewear is India's largest sports and athleisure footwear brand in terms of value and volume.

The company's consolidated net profit surged to Rs 28.66 crore in Q1 FY23 from Rs 1.98 crore posed in Q1 FY22. Revenue from operations surged 149.6% to Rs 337.71 crore in the quarter ended 30 June 2022 as against Rs 135.30 crore in the quarter ended 30 June 2021.

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