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Shares of Radico Khaitan have surged 7% in two trading sessions from its previous closing low of Rs 1151.90 posted on 27 December 2021. The counter hit a record high of Rs 1,251 intraday today. The stock has zoomed nearly 178% from its 52-week low of Rs 443.7 recorded on 29 December 2020.
In last month, Radico Khaitan surged 17% as compared to a 1% rise in benchmark Nifty 50 index. Since the start of 2021, shares of liquor maker have given stellar returns to investors, rising 169%, while the Nifty 50 index has gained 23.2% in the same period.
On the technical front, the stock's RSI (relative strength index) stood at 65.465. 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 1103.08 and 1011.06 respectively. These levels will act as crucial support zones in near term.
Radico Khaitan is one of the oldest and the largest manufacturers of Indian Made Foreign Liquor (IMFL) in India.
The liquor maker posted a 4.3% decline in standalone net profit to Rs 69.26 crore in Q2 FY22 as compared to Rs 72.41 crore reported in Q2 FY21. Revenue from operations increased by 12.5% to Rs 708.83 crore in Q2 FY22 from Rs 630.05 crore in Q2 FY21.
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