Nidhi Granites Ltd Achieves 52-Week High Amidst Strong Buying Momentum

Nidhi Granites Ltd is witnessing remarkable buying activity, with the stock showing a notable performance against the broader market. Today, it has recorded a gain of 1.94%, significantly outperforming the Sensex, which rose by only 0.46%. Over the past week, Nidhi Granites has surged by 10.31%, while the Sensex managed a mere 0.50% increase. This trend continues with a striking 30.77% rise over the past month, compared to the Sensex's 0.27%.
The stock has been on a consistent upward trajectory, achieving consecutive gains for the last seven days, culminating in a total return of 14.68% during this period. Today, Nidhi Granites reached a new 52-week high of Rs. 289, opening at this price and maintaining it throughout the trading session. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum.

Several factors may be contributing to this buying pressure, including positive market sentiment and robust performance metrics that highlight Nidhi Granites' resilience in a challenging economic environment. The company's impressive long-term performance, with a staggering 830.76% increase over three years and 2497.75% over five years, further underscores its strong market position.