Hot Pursuit     22-Aug-23
Shalby spurts 20% in four days; hits 52-week high
Shalby surged 13.78% to Rs 223.75, extending gains for fourth consecutive trading session.
Shares of Shalby have rallied 19.56% in four consecutive sessions.

The stock hit a 52-week high of Rs 225.55 today. The stock hit a 52-week low of Rs 114.35 on 28 March 2023.

The stock had outperformed the market over the past one month, advancing 18.26% as against Sensex's 2.17% decrease.

The scrip had outperformed the market in past three months, jumping 60.11% as against 5.28% increase in Sensex.

The counter had also outperformed the market in past one year, soaring 81.69% as against Sensex's 10.99% surge.

On the technical front, the stock's daily RSI (relative strength index) stood at 73.499. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 181.29, 160.98 and 151.59, respectively. These levels will act as crucial support zones in near term.

Shalby is a company engaged in healthcare delivery space and listed with bourses in India. The company operates as a chain of multispecialty hospitals across India. The business of the company is to offer tertiary and quaternary healthcare services to patients in various areas of specialization such as orthopedics, complex joint replacements, cardiology, neurology, oncology, renal transplantations etc.

The company's consolidated net profit rose 3.6% to Rs 20.83 crore on 16.8% increase in net sales to Rs 235.49 crore in Q1 FY24 over Q1 FY23.

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