Swan Defence Stock Hits Upper Circuit Limit Amid Strong Market Momentum
Swan Defence and Heavy Industries Ltd has reached its upper circuit limit, achieving an intraday high and marking a 21-day streak of gains. The stock shows strong market interest, trading above key moving averages, despite a decline in delivery volume. Its performance outpaces the sector, highlighting its market strength.
Swan Defence and Heavy Industries Ltd, a small-cap player in the Aerospace & Defense sector, has made headlines today by hitting its upper circuit limit. The stock reached an intraday high of Rs 498.6, reflecting a notable increase of 4.99% from its previous close. This surge is part of a broader trend, as the stock has been on a consistent upward trajectory, gaining for the last 21 consecutive days and achieving an impressive 178.38% return during this period.Today's trading saw a total volume of 0.00361 lakh shares, resulting in a turnover of approximately Rs 0.017 crore. The stock opened with a gap up of 4.99%, indicating strong market interest. Notably, Swan Defence is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting robust momentum.
Despite a decline in delivery volume, which fell by 47.54% against the 5-day average, the stock's performance today outpaced its sector by 5.72%. Overall, Swan Defence and Heavy Industries Ltd continues to demonstrate significant strength in the market, reflecting its solid position within the Aerospace & Defense industry.
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