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Shares of Brigade Enterprises have rallied nearly 20% in seven trading sessions from its previous closing low of Rs 275.15 on 1 July 2021. The counter hit a record high of Rs 333.70 in intraday today. The stock has soared 148.4% from its 52-week low of Rs 132.4 hit on 16 July 2020.
In last one month, Brigade Enterprises has jumped 17% compared with 0.14% rise in Nifty 50 index.
On the technical front, the stock's RSI (relative strength index) stood at 78.213. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 275.62 and 271.95 respectively. These levels will act as crucial support zones in near term.
The realty company reported a sharp surge in consolidated net profit to Rs 39.57 crore in Q4 FY21 from Rs 2.68 crore in Q4 FY20. Net sales grew 24.4% year on year to Rs 791.24 crore in Q4 FY21 over Q4 FY20. The real estate company posted a pre-tax profit of Rs 26.55 crore in Q4 FY21 as against a pre tax loss of Rs 13.79 crore in Q4 FY20.
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