Shree Manufacturing Achieves 52-Week High Amidst Broader Market Decline

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. 18.06. This milestone comes after a remarkable performance over the past ten days, during which the stock has gained 62.26%. Notably, Shree Manufacturing has outperformed its sector by 4.96% today, indicating strong momentum in its trading activity.
In terms of technical indicators, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a robust upward trend. Over the past year, Shree Manufacturing has delivered a return of 27.99%, significantly outpacing the Sensex, which has only managed a modest 0.44% gain during the same period.

Despite the overall negative sentiment in the market, with the Sensex declining by 492.66 points to 81,700.96, Shree Manufacturing's performance stands out, reflecting its resilience in a challenging environment. The stock's 52-week low was recorded at Rs. 7.35, highlighting the significant recovery it has achieved.