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Tega Industries shares jump after rebound lifts stock from two-day slide
The stock climbed to ₹2,197.50 intraday on Sept. 30, extending a 29.9% gain over the past month.
Tega Industries shares rose more than 6% on Sept. 30 after a broader market rebound followed a two-day sell-off, even as sentiment remained pressured by persistent foreign selling and elevated oil prices, LiveMint Markets reports.
The stock opened on the BSE at ₹2,052.35 and later hit an intraday high of ₹2,197.50. Over the past week, it was up 3.7%, up 25.4% over two weeks, and up 29.9% in one month, the outlet added.
SBI Securities analyst Sudeep Shah said the shares broke out of a downward-sloping trendline about three weeks ago, followed by a strong follow-through move. He also linked the move to higher volumes and cited indicators such as ADX rising and DI lines widening, suggesting strengthening bullish momentum.