Sona BLW shares extend gains for the fifth straight day; up over 51% in 2023
While Sona BLW Precision has displayed impressive growth over the year, it remains to be seen whether the current momentum will persist and propel the stock towards its historical highs.
Sona BLW Precision stocks surged 6% on December 27 on strong volumes. The shares have gained over 50% so far this year.
Over a crore shares changed hands compared with an average combined volume of around 20 lakh on the BSE and NSE.
The delivery volumes for the stock were also high. While the one-month average for delivery volumes stands at 1 lakh shares, December 27 saw a staggering 27 lakh shares marked for delivery.
On December 28, the shares gained over 3% to ₹634 apiece, hovering close to its 52-week high of ₹625, which it hit in August 2023.
However, when looking at the broader picture, the stock is still a considerable distance away from its all-time high level of ₹839. Despite an over 51% up move on a year-to-date basis, the stock has not reclaimed its historical peak, leaving investors curious about its potential trajectory.
Analysts suggest that monitoring the ongoing momentum in Sona BLW Precision will be crucial in gauging its future performance. The recent surge in trading activity, coupled with the stock's distance from its all-time high, has prompted market participants to keep a close eye on the company's developments.
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