Shree Manufacturing Achieves 52-Week High Amid Broader Market Downturn

Shree Manufacturing Company, a microcap player in the Garments & Apparels industry, has made headlines today as its stock price reached a new 52-week high of Rs. 23.02. This milestone was achieved amid a broader market downturn, with the Sensex falling by 470.55 points to 81,595.21. Despite the negative sentiment in the market, Shree Manufacturing has outperformed its sector by 5.61%, showcasing its resilience.
The stock has been on a remarkable upward trajectory, gaining for the last 15 consecutive days and delivering an impressive 106.83% return during this period. Today, it opened with a notable gap up of 4.97%, reflecting strong momentum. Throughout the trading session, the stock has maintained its opening price, indicating stability at this new high.

In terms of technical performance, Shree Manufacturing Company is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish trend. Over the past year, the company has achieved a remarkable 63.15% increase in stock value, significantly outperforming the Sensex, which has only seen a 1.95% rise. The stock's 52-week low stands at Rs. 7.35, highlighting its substantial growth over the year.