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Shares of Trident have risen 11.67% in five consecutive sessions.
In the past one year, the stock has surged 307.32% while the benchmark Sensex has added 23.37% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 85.69. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 53.68, 53.41 and 53.58, respectively.
Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.
On a consolidated basis, net profit of Trident rose 122% to Rs 234.59 crore on 44.1% rise in net sales to Rs 1,691.59 crore in Q2 FY22 over Q2 FY21.
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