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Hindustan Foods' stock has jumped 26.17% in just six trading sessions since hitting a recent closing low of Rs 503.30 on 29 March 2023. The counter has witnessed higher trading volume, with 23,011 shares traded so far compared to an average daily volume of 6,699 shares over the past two weeks.
It hit a 52-week high of Rs 749.15 on 5 December 2022 and a 52-week low of Rs 328.73 on 21 June 2022.
In the past month alone, the stock has risen by 16.15%, while the Sensex has seen a fall of 1.49%. Similarly, over the past three months, the stock has advanced 9.19% compared to a 0.15% decline in the Sensex.
Even over the past year, Hindustan Foods has managed to outperform the market, with the stock surging 65.97% as against Sensex's 1.79% rise.
From a technical standpoint, the stock's daily RSI (relative strength index) currently stands at 76.304. As a general rule, an RSI above 70 indicates overbought conditions, while an RSI below 30 indicates oversold conditions.
Additionally, the stock is currently trading above its 200-day, 100-day, and 50-day simple moving averages (SMAs), which are placed at 520.26, 594.97, and 558.47, respectively. These levels will likely act as crucial support zones in the near term.
Hindustan Foods is primarily engaged in the business of contract manufacturing of FMCG products comprising primarily of home care, personal care, foods & refreshments including fruit juice and aerated juice, packing of tea and job working of shoes.
The company's consolidated net profit jumped 46.3% to Rs 17.07 crore on 28.8% rise in net sales to Rs 678.62 crore in Q3 FY23 over Q3 FY22.
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