Zenith Steel Pipes Hits Upper Circuit Limit with High Price of Rs 9.16

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 9.16. The stock experienced a notable change of Rs 0.83, reflecting a percentage increase of 9.96%. This performance significantly outpaced the sector's average return of 1.51% and the Sensex's modest gain of 0.15%.
Throughout the trading session, Zenith Steel recorded a total traded volume of approximately 3.87 lakh shares, resulting in a turnover of Rs 0.35 crore. The stock has been on a positive trajectory, gaining for six consecutive days and achieving a cumulative return of 32.37% during this period. Additionally, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum.

Investor participation has also surged, with delivery volume on October 8 reaching 6.84 lakh shares, a remarkable increase of 718.86% compared to the 5-day average. Overall, Zenith Steel's performance today underscores its robust market position and growing investor interest in the stock.