Platinum Industries share price jumped nearly 14% on Monday, 19 October, as the stock witnessed strong buying interest and a sharp improvement in trading volumes. The rally comes as investors track the company's expansion plans and await further progress on its new manufacturing facilities.
Rajesh Bhosale, Technical Analyst at My Advisor Alpha, said the stock witnessed strong price and volume action during Monday's session. He noted that the shares had crossed above their 20-day, 50-day and 200-day exponential moving averages (DEMA) in a single session, signalling improving technical momentum.
“The positive momentum can extend in the near term, with the next resistance placed around ₹250. On the flip side, the 50-DEMA around ₹215 is the support level to watch,” Bhosale said.
Platinum Industries share price today opened at an intraday low of ₹200.85 apiece on the BSE, the stock touched an intraday high of ₹235 per share.
Platinum Industries reported consolidated revenue of ₹108.94 crore for Q1 FY27, down 5.58% from ₹115.4 crore in the year-ago quarter. Operating profit declined 11.22% year-on-year to ₹13.45 crore.