Top 3 stocks trading below Rs 100

During Tuesday’s trading sessions, these three equities gained significantly with price and volume activity, indicating potential bullish action.

Here’s an in-depth look.

Rajshree Sugars & Chemicals Ltd

Rajshree Sugars & Chemicals Ltd experienced a significant surge, currently trading at Rs 74.58, marking a 20.00% increase from the previous close of Rs 62.15. The stock saw a notable volume spike with 1,399,782 shares traded, indicating strong investor interest. The market cap stands at Rs 244.61 crore. The stock has demonstrated impressive returns from its 52-week low, rising by 94.73%, signaling a potential for continued upward momentum. Despite being off its 52-week high of Rs 101.9, the current price action suggests a positive trend, especially given the price-volume breakout and support bounce observed. With an RSI of 69.79, the stock is nearing overbought territory but still shows room for growth.

Hindustan Construction Company Ltd

Hindustan Construction Company Ltd is currently trading at Rs 47.4, very close to its 52-week high of Rs 47.6, reflecting a 19.10% increase from the previous close of Rs 39.8. The stock witnessed a massive traded volume of 273,610,514 shares, highlighting strong market activity and interest. The market cap is Rs 7,914.58 crore. This stock is a multibagger, with returns from the 52-week low soaring by 178.17%. The price-volume breakout and 52-week high breakout indicate sustained bullish momentum. With an RSI of 71.54, the stock is in the overbought zone, suggesting it might be due for a correction or consolidation in the near term, but the overall trend remains positive.

Essar Shipping Ltd

Essar Shipping Ltd saw a robust increase, currently trading at Rs 45, a 20.00% rise from the previous close of Rs 37.5. The traded volume was substantial at 12,105,857 shares, reflecting heightened investor interest. The market cap stands at Rs 931.22 crore. This stock is a multibagger, with a staggering 339.02% return from its 52-week low. It has also hit its 52-week high of Rs 45, signaling strong bullish sentiment. The price-volume breakout and volume spike reinforce the positive outlook. With an RSI of 79.78, the stock is in the overbought territory, suggesting a potential for short-term consolidation or a pullback, though the long-term trend remains strongly bullish.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.