Shares of the Shree Rama Newsprint jumped 59.41% in six trading sessions from its recent closing low of Rs 22.22 on 14 February 2025.
The stock hit an all-time high of Rs 36.25 today. The counter has soared 146.49% from its 52-week low of Rs 14.37 hit on 28 January 2025.
On the BSE, 3.87 lakh shares were traded in the counter so far compared with average daily volumes of 0.75 lakh shares in the past two weeks.
The stock had outperformed the market over the past month, rising 128.37% as against the Sensex's 1.9% increase.
The script had outperformed the market in the past three months, jumping 111.46% as against a 5.8% drop in the Sensex.
The counter had also outperformed the market in the past year, soaring 77.28% as against the Sensex's 1.9% surge.
On the technical front, the stock's daily RSI (relative strength index) stood at 90.229. 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 above its 50-day, 100-day, and 200-day simple moving averages (SMA) placed at 20.51, 19.75, and 19.28, respectively. These levels will act as crucial support zones in the near term.
Shree Rama Newsprint is engaged in the business of manufacturing and selling newsprint and writing and printing papers and identified the same as discontinued operations.
The company reported a net loss of Rs 6.96 crore for Q3 FY25, compared to a net loss of Rs 6.88 crore in Q3 FY24. Net sales dropped 6.2% to Rs 12.43 crore in the quarter ended 31 December 2024.