From mint · Dhanya Nagasundaram · · 1m 10s
Platinum Industries Shares Jump 14% as Analyst Sees Upside
Platinum Industries shares surged 14% after crossing key moving averages, with technical analyst predicting further gains.
In brief
Platinum Industries shares surged 14% after crossing key moving averages, with technical analyst predicting further gains. Platinum Industries shares rose 14% on Monday as technical analyst Rajesh Bhosale noted crossing of 20-day, 50-day and 200-day moving averages. Originally reported by mint.
Share Price Jump
Platinum Industries shares jumped nearly 14% on Monday amid strong trading volumes.
Technical Analyst View
Rajesh Bhosale, Technical Analyst at My Advisor Alpha, noted shares crossed above 20-day, 50-day and 200-day exponential moving averages.
Key Resistance Level
The next resistance level is around ₹ 250, with 50-DEMA at ₹ 215 as support.
Q1 FY27 Results
Platinum Industries reported consolidated revenue of ₹ 108.94 crore for Q1 FY27, down 5.58% year-on-year.
Profit Decline
Operating profit declined 11.22% to ₹ 13.45 crore, while net profit fell 14.91% to ₹ 11.13 crore.
Palghar Capacity Expansion
Platinum Industries expanded Palghar facility adding 60,000 tonnes per annum of lead-free PVC stabilisers capacity.
Egypt Facility Timeline
Egypt manufacturing plant targets commercial production by 31 December 2026 with ₹ 68 crore investment.
South Korean Agreement
Subsidiary Rivadu Lifesciences signed exclusive agreement with South Korean company CAREGEN for health-functional-food products.
In short
Platinum Industries shares rose 14% on Monday as technical analyst Rajesh Bhosale noted crossing of 20-day, 50-day and 200-day moving averages.
