Shares of Lord’s Mark Industries, a diversified business group, will be in focus as the company has informed exchanges that it has expanded its electrical portfolio. Amid this, the stock opened in the green at Rs 80.99, up Rs 0.81 or 1.01 per cent from the previous close of Rs 80.18 on the BSE. The counter gained further to touch the intraday high of Rs 83.40, a gain of Rs 3.22 or 4.01 per cent. However, the stock saw profit booking at higher levels and fell to Rs 78.61, down Rs 1.57 or 1.95 per cent. Last seen, the stock was trading at Rs 79.10, and the market cap of the company stood at Rs 3,374.58 crore.
Shares detail of acquisition
The company stated in its filing that it has acquired Radio Electric Private Limited to expand its business.
The company, known as Radiotone, manufactures electrical components and transformers. The acquisition was made under the Lighting & Energy division of Lord’s Mark Industries. The company aims to strengthen its presence in the electrical manufacturing sector and expand its business in the domestic and international markets through new technologies.
Relative strength index
The stock’s 14-day relative strength index (RSI) is 37.25. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
The stock has underperformed the sector by 1.24 per cent today, has been losing for the last four days, and has fallen 5.77 per cent in the period. Technically, the stock traded below the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Based on 2 per cent of the five-day average traded value, the stock is liquid enough for a trade size of Rs 0.19 crore.
Share price history
According to BSE Analytics, the stock has returned 71.85 per cent in five years and 87.64 per cent in one year. On a year-to-date (YTD), the counter has corrected 88.23 per cent as against the dip of 15.59 per cent in the benchmark index.
Meanwhile, benchmark indices Sensex and Nifty climbed in early trade on Monday, extending their previous session’s sharp rally, amid easing oil prices. The 30-share BSE Sensex rallied 178 points to 72,627.86 in early trade. The 50-share NSE Nifty climbed 76.20 points to 22,591.45.
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