Shakti Pumps (India) corrects on sale for profit

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Shakti Pumps (India) fell 3.41% to Rs 669.20 on the profit sell after recent strong gains.

Shares of Shakti Pumps (India) have jumped 17.59% over the past seven trading sessions.

Over the past year, the stock has climbed 102.63% while the benchmark Sensex has added 24.46% over the same period.

On the technical side, the RSI (relative strength index) of the stock stood at 52.36. The RSI fluctuates between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when it is below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 637.88, 615.73 and 616.53, respectively.

On a consolidated basis, Shakti Pumps (India) net profit increased by 36.35% to Rs 20.78 crore on an 83.51% increase in net sales to Rs 369.02 crore in Q2 September 2021 by compared to Q2 September 2020.

Shakti Pumps (India) manufactures energy efficient pumps and motors. With a leading position in the solar pump markets in India, Shakti exports a wide range of pumping products to over 100 countries globally.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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