In contrast, S&P BSE Sensex's one year and year-to-date returns stand at 25% and 9.5%, respectively.The railway stock has been trading above its 50-day and 100-day exponential moving averages of Rs 1,282.40 and Rs 1,152.90, respectively.
According to Trendlyne data, the day's momentum indicators RSI and MFI have fallen into an overbought zone.
While the former is hovering near 77.4, the latter is around 92.6.
: Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of The Economic Times)
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Shares of Kolkata-based private railway stock Titagarh Rail Systems have rallied 17% in the last 2 days on BSE to its new all-time high of Rs 1,896.50 as BlackRock Global Emerging Markets Fund bought over 9.46 lakh shares through block deals on Wednesday.The deal is valued at approximately Rs 153.12 crore and the transaction took place at a price of Rs 1,618 apiece, which was the same as the stock’s Tuesday’s closing price on the BSE.Promoter Rashmi Chowdhary offloaded a 2% stake or 26.94 lakh shares in Titagarh Rail Systems. As of March 2024, Chowdhary held a 9.54% stake in the company as per the data available with the stock exchanges.As a result of the block deal, Titagarh share price jumped 12% to Rs 1,815.05 early on Tuesday.The multibagger railway stock has given returns of 262% over the last one year and its returns this year have been to the tune of 76%. In contrast, S&P BSE Sensex's one year and year-to-date returns stand at 25% and 9.5%, respectively.The railway stock has been trading above its 50-day and 100-day exponential moving averages of Rs 1,282.40 and Rs 1,152.90, respectively. According to Trendlyne data, the day's momentum indicators RSI and MFI have fallen into an overbought zone. While the former is hovering near 77.4, the latter is around 92.6. A number above 70 is considered as overbought while below 30 is seen as oversold.While the stock has largely traded with an upward bias, it has been quite volatile in trade.Meanwhile, shares of PSU railway stock RVNL also surged nearly 3% to day’s high of Rs 420.70 on BSE as the KRDCL-RVNL JV received letter of acceptance (LoA) for a project worth Rs 156.47 crore from Southern Railway.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
