Symphony jumps 11% in eight days

Symphony rose 0.33% to Rs 993.40, extending gains for the eighth trading session.

Shares of Symphony surged 11.12% in eight consecutive sessions.

On the BSE, 1,165 shares were traded in the counter so far compared with average daily volumes of 2,409 shares in the past two weeks.

The stock hit 52-week high of Rs 1,214 on 8 April 2022. The stock hit a 52-week low of Rs 821 on 3 November 2022.

The stock had outperformed the market over the past one month, rising 7.05% compared with 3.11% fall in the Sensex.

The counter had outperformed the market in past one quarter, advancing 13.01% as against Sensex's 3.9% rise.

The scrip had underperformed the market in past one year, declining 2.59% as against Sensex's 0.24% fall.

On the technical front, the stock's daily RSI (relative strength index) stood at 75.539. 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 simple moving average (SMA) placed at 893.98, 888.69 respectively.

Symphony are engaged in the field of residential, commercial and industrial air cooling and other appliances both in the domestic and international markets.

The company's consolidated net profit rose 10% to Rs 33 crore on 24.5% jump in net sales to Rs 274 crore in Q2 FY23 over Q2 FY22.

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