STCI extends ‘Santa Claus rally’and reaches upper circuit
DSIJ Intelligence / 23 Dec 2016
State Trading Corporation of India has extended what's called as a Santa Claus Rally, the term generally associated with the situation wherein a stock price surges during Christmas till new year. The stock has witnessed a spurt in volume by more than 15 times.
State Trading Corporation of India has extended what's called as a Santa Claus Rally, the term generally associated with the situation wherein a stock price surges during Christmas till new year. The stock has witnessed a spurt in volume by more than 15 times. On December 23, it opened at Rs 119.15, soon reached its upper circuit at Rs 143.45, up by 19.99 per cent. The stock is trading at 117.13 SMA, indicating bullishness in the stock.
The recently declared quarterly results of the company have not been good. In Q2FY17, net sales stood at Rs 607.24 crore, which have fallen by 87.62 per cent. PBIDT stands at Rs 31.52 crore, which has declined by 7.76 per cent YoY. In Q2FY17, company has posted a net loss of Rs 2.96 crore.
State Trading Corporation of India has gained as much as 101.47 per cent from its 52 week low. In the last three months, the stock has surged 22 per cent, majority accounted by today’s rally. Fifty-two-week high/low stands at Rs 173.70/71.20.