Mahindra and Mahindra Financial Services gained 3.22% to Rs 205 extending gains for fourth consecutive session.
The stock has added 7.50% in four sessions, from its recent closing low of Rs 190.70 recorded on 22 August 2022.
On the technical front, the stock's daily RSI (relative strength index) stood at 60.650. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On daily chart, the stock is trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 191.90, 184.13 and 171.09, respectively.
In the past six months, the stock has added 40% while the benchmark Sensex has added 5.76% during the same period.
Mahindra & Mahindra Financial Services, part of the Mahindra Group, is a non-banking finance company.
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The company reported consolidated net profit of Rs 239.86 crore in Q1 FY23 as against a net loss of Rs 1,573.40 crore posted in Q1 FY22. Total income rose 13.5% year on year to Rs 2,913.96 crore in the quarter ended 30 June 2022.
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