Gillette India jumps 17% in eight days

Shares of the Gillette India jumped 16.81% in eight trading sessions from its recent closing low of Rs 7,687.60 on 13 August 2024.

The stock hit an all-time high of Rs 9,049.75 today. The counter has soared 67.28% from its 52-week low of Rs 5,410 hit on 25 August 2023.

On the BSE, 7,831 shares were traded in the counter so far compared with average daily volumes of 1,423 shares in the past two weeks.

The stock had outperformed the market over the past one month, rising 15.21% as against Sensex's 0.51% increase.

The scrip had outperformed the market in past three months, jumping 30.64% as against 8.4% rise in Sensex.

The counter had also outperformed the market in past one year, soaring 65% as against Sensex's 25.98% surge.

On the technical front, the stock's daily RSI (relative strength index) stood at 77.615. 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 average (SMA) placed at 7,714, 7,268.21 and 6,866.72, respectively. These levels will act as crucial support zones in near term.

Meanwhile, the board of Gillette India will consider Q4 results on 28 August 2024.

Gillette India is engaged in the manufacturing and sale of branded packaged fast-moving consumer goods in the grooming, portable power and oral care businesses.

Gillette India reported 3.5% decline in net profit to Rs 99.09 crore in the third quarter ended 31 march 2024 as against Rs 102.70 crore recorded in the same period a year ago. Revenue from operations grew by 10% year on year to Rs 680.74 crore in the quarter ended 31 March 2024.