2 Breakout Shares That Made a Splash on Friday!
Friday was a good session for bulls as the benchmark index closed the day 0.51% up at 19,230.6, while was up 0.44% to 64,363.78 and also fell below 11. All sectoral indices witnessed buying interest and touched a new decade high.
In the midst of such a bullish environment, here are 2 shares that turned many eyeballs on the street.
Libas Consumer Products Limited
Libas Consumer Products Ltd (NS:) is a lesser-known garment company with a market capitalization of a mere INR 35 crore. Although it is quite a small company, it’s not a junk stock. The company remained profitable for the last many years and reported a net income of INR 7.58 crore in FY23, which is growing at a decent 5-year CAGR of 21.1%.
Image Description: Daily chart of Libas Consumer Products with volume bars at the bottom
Image Source: Investing.com
The stock jumped 12.59% to INR 15.2 in today’s session on the back of a massive volume of 4.67 million shares, which is 423% higher than the 10-day average of 890K shares. The price jumped above the previous swing high and closed at the highest level since February 2023. The stock is now headed towards INR 18 which could be on the screen in the next week.
Amber Enterprises India Limited
Amber Enterprises India Ltd (NS:) is a manufacturer of home appliances and equipment, with a market capitalization of INR 9,840 crore. After a brief consolidation phase, the stock jumped 6.7% and hit a 52-week high of INR 3,155 which translates into a good breakout, especially when taking place around 52-week highs.
Image Description: Daily chart of Amber Enterprises India with volume bars at the bottom
Image Source: Investing.com
There was also a trendline breakout being witnessed today. Now, long traders can eye for a level of 3,300 in the near future. If the stock falls back below INR 2,900, then the breakout could be deemed as a failure.
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X (formerly, Twitter) – aayushxkhanna
Read More: Nifty 50 Reclaims 19,100; India VIX Tanks 8%!
Friday was a good session for bulls as the benchmark index closed the day 0.51% up at 19,230.6, while was up 0.44% to 64,363.78 and also fell below 11. All sectoral indices witnessed buying interest and touched a new decade high.
In the midst of such a bullish environment, here are 2 shares that turned many eyeballs on the street.
Libas Consumer Products Limited
Libas Consumer Products Ltd (NS:) is a lesser-known garment company with a market capitalization of a mere INR 35 crore. Although it is quite a small company, it’s not a junk stock. The company remained profitable for the last many years and reported a net income of INR 7.58 crore in FY23, which is growing at a decent 5-year CAGR of 21.1%.
Image Description: Daily chart of Libas Consumer Products with volume bars at the bottom
Image Source: Investing.com
The stock jumped 12.59% to INR 15.2 in today’s session on the back of a massive volume of 4.67 million shares, which is 423% higher than the 10-day average of 890K shares. The price jumped above the previous swing high and closed at the highest level since February 2023. The stock is now headed towards INR 18 which could be on the screen in the next week.
Amber Enterprises India Limited
Amber Enterprises India Ltd (NS:) is a manufacturer of home appliances and equipment, with a market capitalization of INR 9,840 crore. After a brief consolidation phase, the stock jumped 6.7% and hit a 52-week high of INR 3,155 which translates into a good breakout, especially when taking place around 52-week highs.
Image Description: Daily chart of Amber Enterprises India with volume bars at the bottom
Image Source: Investing.com
There was also a trendline breakout being witnessed today. Now, long traders can eye for a level of 3,300 in the near future. If the stock falls back below INR 2,900, then the breakout could be deemed as a failure.
———————————————————
X (formerly, Twitter) – aayushxkhanna
Read More: Nifty 50 Reclaims 19,100; India VIX Tanks 8%!
