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HomeMoneyKET's stock has given a return of 341.60% so far this year,...

KET’s stock has given a return of 341.60% so far this year, may touch new highs further

Highlights

  • RSI in bullish zone
  • Trend indicator on ADX 42
  • climbed over 14% today

New Delhi
Buzzing stock of the day: Kabra Extrusion Technique Limited (KET) is a leading manufacturer of Plastic Extrusion Machinery in India. Its stock has performed very well in the medium and short term. The stock has given investors a massive return of 341.60% since January 2021. The company has given 41.05% return in a short span of one month. Thus the stock is going strong and has outperformed its fellow stock. Technically, KET stock is bullish as the RSI is in the bullish zone.

The Mansfield Relative Strength Indicator is above the 0 line and shows the outperformance of the stock with the Nifty 500 Index. The trend indicator ADX is at 42 and is rising, indicating a strong uptrend for the stock. Even the Elder Impulse system shows the uptrend in the stock. The stock has registered its fresh all-time high of Rs 409 and is today up over 14%. The price action is supported by rising volumes which indicates active participation of market players. The stock is showing no signs of exit, its momentum is expected to continue and we can see the stock touching new highs in the short and medium term.

Market cap Rs 1,277 crore
KET offers a wide range of hi-tech single and twin-screw extrusion lines for pipes, profiles, pellets, tele ducts and mono and multilayer blown films plants. It is a smallcap company with a market cap of Rs 1,277 crore. The company is fundamentally strong, reporting growing revenue and net profit year-over-year.

Also read: Today, these penny stocks including MPS Infotecnics and Suzlon Energy engaged in upper circuit

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