On the BSE, 18,000 shares were traded in the counter so far compared with average daily volumes of 23,000 shares in the past two weeks.

The stock hit a 52-week high of Rs 345.70 on 8 September 2023. The stock hit a 52-week low of Rs 147.50 on 3 March 2023.

The stock had underperformed the market over the past one month, declining 1.34% compared with 3.27% increase in the Sensex.

The scrip had also underperformed the market in past three months, rising 3.3% as against Sensex's 6.82% rise.

However, the counter had outperformed the market in past one year, jumping 20.51% as against 11.92% increase in the Sensex.

On the technical front, the stock's daily RSI (relative strength index) stood at 43.678. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading below its 50-day and 100-day simple moving average (SMA) placed at 300.23 and 267.36 respectively. These levels will act as crucial resistance zones in near term.

Ram Ratna Wires is a leading manufacturer of winding wires, mainly enamelled copper wires. The company offers unique product range of all gauges of winding wires including super fine wires. The product portfolio of the company includes enamelled copper wire and strips, enamelled aluminium wires and strips, submersible winding wires, fiber glass covered copper and aluminium strips and paper cover round wires.

The company's consolidated net profit declined 5.5% to Rs 9.39 crore as compared with Rs 9.94 crore in Q1 FY23. Net sales 4.5% year on year to Rs 724 crore in Q1 FY24 over Q1 FY23.