Shares of this luxury watch company jumped due to excellent results, buyers lined up – shares of ethos limited soar over 10 percent in early trade
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Coming to the technical charts, on August 2, the 200-day moving average (DMA) of the stock was recorded at Rs 1180.54. While the 50-DMA was noted at Rs 1396.68. Currently priced at Rs 1597.50 the stock is showing a strong and sustained upward growth in the long term. When a stock is consistently above both the 50-DMA and 200-DMA, it usually indicates a strong bullish trend.
Due to the excellent results of the company, good buying was seen in it. In the first quarter of the current financial year, the company’s revenue stood at Rs 230 crore with a strong jump of 32.5 per cent. At the same time, the net profit of the company increased to Rs 18.2 crore in the first quarter.
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