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Elgi equipment at a glance, here’s why

Elgi Equipments has grown 20 percent in the past five days and 35 percent in the past 15 days, with good volumes supporting it.

In the past five days, volumes have increased 2.4 times its one-month average. Likewise, its deliverable volumes are also multiplied by around 1.5.

For now, given that there has been a sharp rise in the past five days, its support levels are a bit further out, but the 3-day low is around Rs 251 and its moving average of 20 days (DMA) is around Rs 233.

The main trigger was the improved earnings outlook – something that also came out of her earnings conference call.

Watch the companion video of CNBC-TV18’s Agam Vakil for more details.

(Edited by : Dipikka Ghosh)


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