Spandana Sphoorty’s shares surged by 14% amidst heavy trading activities
Shares of Spandana Sphoorty Financial surged by 14.2% to reach a high of Rs 463.90 during intraday trading, driven by high trading volumes. This impressive performance showcases the company’s resilience and strength in the face of weak market sentiment.
Trading data indicates a significant level of activity, with 38.53 lakh shares traded and a total value of Rs 170.72 crore by 9:40 am on the NSE today, January 8. The stock’s total market capitalization currently stands at Rs 3,280.39 crore, with a free-float market cap of Rs 1,184.90 crore.
Spandana Sphoorty Financial reached its 52-week high of Rs 1,243.20 on January 12, 2024, and its low of Rs 305.20 on December 26, 2024.
Over the past year, the shares of Spandana Sphoorty Financial have experienced a 62.7% decline, with a 38.5% decrease in the last 6 months, according to BSE analytics. However, the stock has shown a 17.13% increase in the last month, despite a 17.3% drop in the last 3 months.
In terms of technical performance, Spandana Sphoorty Financial stock is currently trading above its significant short and medium-term exponential moving averages (10, 20, and 50 DEMA), but below its 100 and 200 DEMA. The stock’s relative strength indicator (RSI) hovers around the 65 mark, indicating a mid-range position on the indicator.
Analysts at Trendlyne have varying opinions on the stock, with 3 out of 7 recommending a ‘strong buy’, 1 suggesting a ‘buy’, and 3 advising a ‘hold’. The average 12-month target price is Rs 534, indicating a potential upside of 16% from current levels.
For more market insights, follow our blog.
Stay tuned for more updates and insights on the stock market! For more insights on investing in the Indian stock market, check out resource like ET, NSE India.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.