Kohinoor Foods spurts over 38% in three days

Kohinoor Foods jumped 13.43% to Rs 74.75, extending gains for the third straight session.

Shares of Kohinoor Foods have surged 38.55% in three days.

The stock outperformed the market over the past one month, soaring 24.39% compared with 1.58% decline in the Sensex.

The scrip outperformed the market in past one quarter, surging 27.49% as against Sensex's 2.92% rise.

The scrip outperformed the market in past one year, soaring 882.78% as against Sensex's 1.22% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 83.20. 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 was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 55.46, 59.57 and 59.25, respectively. These levels will act as crucial support zones in near term.

Kohinoor Foods is engaged in manufacturing, trading & marketing of food products. Its products include basmati rice, wheat flour, ready to eat curries & meals, simmer sauces, cooking pastes to spices, seasonings and frozen food. It has further expanded product basket to pure ghee, paneer (Indian cottage cheese), ready mixes, namkeens & sweets.

On a consolidated basis, Kohinoor Foods reported net profit of Rs 1.75 crore in Q2 September 2022 as against net loss of Rs 5.03 crore in Q2 September 2021. Net sales surged 200.74% to Rs 28.42 crore in Q2 September 2022 over Q2 September 2021.

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