Shares of garments and apparel company Lorenzini Apparels are in focus as the company was locked in a 20 per cent upper circuit in today's trading session, even as benchmark indices Sensex and Nifty drifted lower in early trade amid geopolitical tensions and renewed concerns about potential US tariff hikes, which weighed on investor sentiments. The stock opened gap up with a gain of 17.2 per cent at Rs 10.90 against the previous close of Rs 9.30 on the BSE. Amid a spurt in trading volume by more than 68.90 times, the stock gained further to hit the intraday high of Rs 11.16. This is also the upper circuit of the stock. Last seen, the stock was trading at Rs 10.33 with a gain of 11.08 per cent, and the market cap of the company stood at Rs 178.44 crore.
On the National Stock Exchange (NSE), the stock opened at Rs 9.49 and touched an intraday high and low of Rs 11.02 and 9.46.
The stock's 14-day relative strength index (RSI) is 49.27. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
The stock has outperformed the sector by 13.08 per cent and traded in a wide range of Rs 1.27. Technically, the scrip trades higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than the 200-day moving averages.
Share price history
The stock has delivered a multibagger return of 1774.55 per cent in five years and 123.16 per cent in three years. However, it has corrected 33.10 per cent in two years and 34.46 per cent in one year. On a year-to-date (YTD) basis, it has gained 12.07 per cent as against the correction of 0.29 per cent by the benchmark index.
Stock market today
Meanwhile, benchmark indices Sensex and Nifty drifted lower in early trade. The 30-share BSE Sensex declined 169.64 points to 84,909.30 in early trade. The 50-share NSE Nifty went down 42.35 points to 26,128.90.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
