RSI stands for Relative Strength Index, used as a technical analysis indicator to assess the strength or weakness of an asset’s price movements.
The RSI oscillates between 0 and 100; typically, values above 70 are considered to be overbought, and values below 30 are considered to be oversold.
“Here are the stocks that are trading at RSI below 30 to keep an eye on”
Ramco cement Ltd
With a market capitalization of Rs 19,801.30 crore, Ramco Cements Ltd. started its trading session at a flat note of Rs 874.20 per share, down by 4 percent from its previous close of Rs 870.20 per share to an intraday low of Rs 833.95 per share.
The company has delivered a return of 19 percent in one year, and currently the RSI of the stock is trading at 27.9, indicating an oversold condition.
Now, looking at the prime business parameters, the revenue from operations on a yearly basis increased by 5 percent from Rs 2009 crore in Q3 FY23 to Rs 2106 crore in Q3 FY24. Similarly, the net profits increased by 39 percent from Rs 67 crore to Rs 93 crore during the same period.
Ramco Cements Ltd. is an indian based company engaged in the business of manufacturing cement, ready mix concrete, and dry mortar products. The company primarily operates in the domestic market and has a global presence in Sri Lanka and the Maldives.
AU Small Finance Bank Ltd
With a market capitalization of Rs 38,045.92 crore, AU Small Finance Bank Ltd. started its trading session at a flat note of Rs 597.95 per share, down by 4 percent from its previous close of Rs 589.80 per share to an intraday low of Rs 568 per share.
The company has delivered a negative return of 5 percent in one year, and currently the RSI of the stock is trading at 29.19, indicating an oversold condition.
Now, looking at the prime business parameters, the revenue from operations on a yearly basis increased by 29 percent from Rs 2118 crore in Q3 FY23 to Rs 2736 crore in Q3 FY24. Similarly, the net profits decreased by 5 percent from Rs 393 crore to Rs 375 crore during the same period.
AU Small Finance Bank Ltd. is an Indian based Non banking financial corporation. It is engaged in providing a wide range of retail banking, wholesale banking, and other banking activities. It also offers various types of loans, namely car loans, home loans, personal loans, tractor loans, and others.
Timken India Ltd
With a market capitalization of Rs 20,544.87 crore, Timken India Ltd. started its trading session at a high note of Rs 2686.05 per share, up by 1.47 percent from its previous close of Rs 2691.80 per share to an intraday high of Rs 2789.05 per share.
The company has delivered a negative return of 9 percent in one year, and currently the RSI of the stock is trading at 24.4, indicating an oversold condition.
Now, looking at the prime business parameters, the revenue from operations on a yearly basis increased by 0.49 percent from Rs 609 crore in Q3 FY23 to Rs 612 crore in Q3 FY24. Similarly, the net profits decreased by 4 percent from Rs 71 crore to Rs 68 crore during the same period.
Timken India Ltd. is engaged in the business of manufacturing antifriction bearings, mechanical power transmission products, and related services.
The company’s principal activities include the manufacturing, distribution, and sale of anti-friction bearings. The company’s manufacturing plants are located in Jamshedpur in Jharkhand, Bharuch in Gujarat, and other parts of the country.
Written By Praveen R
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