Mahindra Lifespace buzzing on bourses

On a tough day for market when broader markets are trading negative Mahindra Lifespace is trading up by almost 4 percent on intraday basis .  The stock is trading at 470 levels on Wednesday when BSE Sensex is down by almost 150 points and the BSE Small cap is trading flat to negative. The BSE realty index is down by almost 1 percent on intraday basis. 

The stock while outperforming the BSE realty index has been underperforming the BSE small cap index . The stock has gained some momentum in past couple of sessions with the stock prices inching up by almost 10 percent in two trading sessions.  The price rise has been aided with good volumes in the counter.   With stock trading at 470 odd levels it has managed to cross its 200 SDMA (Simple Daily Moving Average) and is already trading above its 50 days SDMA (Simple Daily Moving Average).

200 SDMA is a crucial indicator and when a stock trades above its 200 DMA it is considered bullish for the counter as the longer term trend for the stock may have turned up. 

For a period of 1 year the stock has given negative returns of 1.4 percent and is trading at a P/E multiple of 20.74 .