Sterlite Technologies continues significant uptrend; jumps 7.3%
Sterlite Technologies Limited (NSE:STRTECH), India's 8th largest Heavy electrical equipment company by market cap, has jumped Rs9.10 (7.3%) from its previous trading session to close at Rs134.25. Compared with the BSE SENSEX Index which rose 12.8 points (0.03%) in the day, the relative price increase was 7.2%. There were 6,440,795 shares worth Rs850.6 million (US$12 million) traded today. The rise has been propped up by strong volume of 2.9 times the average daily volume of 2.2 million shares.
Technical indicators complementing today's significant uptrend:
+ The positive 2.82 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.
+ In the last one month the stock has hit a new 52-week high nine times, pointing to a significant uptrend.
+ The price climbed 5.6% in the last week and soared 18.0% in the last month.