Steel Products Maker Hardwyn India Share Price Jumps Nearly 10 pc Intraday Even As Nifty Metal Index Trades Flat in Weak Market. Image Source: Canva
Steel products maker Hardwyn India share price touched an intraday high of Rs 38.90 a share on the National Stock Exchange (NSE). up by 9.27 per cent from its previous close of Rs 35.60 apiece. The counter has been gaining for the last three days and has risen 10.9 per cent returns in the period.
The scrip outperformed the sector by 4.36 per cent as Nifty Metal index trades flat at 8,173.20, up marginally 0.52 per cent. Benchmark equity indices Sensex and Nifty tanked in early trade amid sustained foreign fund outflows and a weak trend in the US markets. The 30-share BSE Sensex tanked 468.91 points to 72,363.03. The NSE Nifty declined 149.2 points to 21,947.55.
The counter is trading higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages. The delivery volume of 3.06 lakh on 22 March has risen by 76.11 per cent against 5-day average delivery volume.
The metal industry especially aluminum, is a key wealth creator and plays a pivotal role in the economic growth. Hardwyn is specialized in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions.
The counter has delivered nearly 70 per cent returns in the last 365 days, as per data available on the Bombay Stock Exchange (BSE). In the last two years, it climbed a whopping of 723.08 per cent, delivery multibagger returns to investors. The counter multiplied investors wealth by 951.97 per cent in the last three years.
In June 2023, the company issue bonus in the ratio 1:3 and also announced share split in the ratio 10:1, as per BSE data.
Meanwhile, From the Sensex basket, PowerGrid, Maruti, Bharti Airtel, Asian Paints, UltraTech Cement and Titan were the major laggards. Bajaj Finance, Bajaj Finserv, IndusInd Bank and Tata Motors were among the gainers. In Asian markets, Tokyo and Shanghai were quoting lower, while Seoul and Hong Kong traded in the positive territory. Wall Street ended lower on Monday.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
