Shares of Godrej Industries Ltd surged nearly 7% on Friday. Shares saw trading volumes of 12.2 lakh shares, 28 times the 20-day average of 43,259 shares around 11:00 am.
According to market participants, the holding company of Godrej Group was part of some large trade on Thursday. The detail of the trade is unknown.
In the last few trading sessions, the average volumes for the counter have been around 70,000-80,000. Particularly, on Thursday's session, the volumes soared to 19 lakhs. However, despite huge volumes the stock price move was missing.
According to analysts, considering the price and volume breakout further extension of up move can be expected towards 485-500 levels, and immediate support for the stock is 446 level.
In today's intraday session, the stock hit a high of ₹461.15 and a low of ₹433.10.
According to Trendlyne, the stock has fallen 31.06% from 52-week high of 662.0 recorded on January 12, 2022. The stocks weekly average delivery volume is 87.63%.
