Morarjee Textiles Hits Upper Circuit Limit with High Price of Rs 8.23

Morarjee Textiles Ltd, a microcap player in the Garments & Apparels industry, has experienced significant trading activity today, hitting its upper circuit limit. The stock reached a high price of Rs 8.23, reflecting a notable increase of 0.39, or 4.97%, from its previous close. The price band for the day was set at 5%, indicating a robust performance within the trading session.
The stock's intraday low was recorded at Rs 7.60, while the total traded volume amounted to approximately 0.1014 lakh shares, resulting in a turnover of Rs 0.00794 crore. Notably, Morarjee Textiles outperformed its sector, which saw a return of 0.67%, and the broader Sensex, which returned 0.76%, with a 1D return of 4.97%.

Despite some erratic trading patterns, with the stock not trading on one day out of the last 20, it remains above its 100-day moving averages, although it is lower than the 5-day, 20-day, 50-day, and 200-day averages. The liquidity of the stock appears adequate for trading, based on its recent performance metrics. Overall, Morarjee Textiles has demonstrated a strong performance today, reflecting positive momentum in the market.