Zenith Steel Pipes Hits Upper Circuit Limit with High Price of Rs 9.0

Zenith Steel Pipes & Industries Ltd, a microcap player in the Iron & Steel Products sector, has shown remarkable activity today, hitting its upper circuit limit with a high price of Rs 9.0. The stock experienced a notable change of Rs 0.42, translating to a 4.9% increase in its price. This performance has outpaced the sector, which recorded a mere 0.06% return today.
The stock has been on a positive trajectory, gaining for the last two consecutive days and achieving a total return of 9.89% during this period. Trading activity was robust, with a total traded volume of approximately 1.8793 lakh shares and a turnover of Rs 0.168 crore. Notably, Zenith Steel is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.

However, it is worth mentioning that delivery volume has seen a significant decline, falling by 96.27% compared to the 5-day average. Despite this, the stock remains liquid enough for trades of Rs 0.01 crore based on 2% of the 5-day average traded value. Overall, Zenith Steel Pipes & Industries Ltd has demonstrated solid performance today, reflecting its current market position.