The Economic Times reported that Piramal Pharma Limited led a four-stock Indian momentum screen on Oct. 28, when each selected share rose more than 6%.
The outlet put Piramal Pharma’s Relative Strength Index (RSI) at 71.93, compared with 49.11 previously. Syngene International Limited had a reading of 62.80, versus 45.18; PG Electroplast Limited registered 57.21, against 45.08; and Patanjali Foods Limited reached 55.30, up from 39.06. The Economic Times said all four appeared in StockEdge’s “RSI Trending Up” scan.
StockEdge says the scan flags shares when RSI moves into the range above 50 after a lower reading. The previous readings listed for these four stocks were all below 50. The National Stock Exchange of India (NSE) describes RSI as a technical measure of the pace and scale of recent price changes. StockEdge says its app uses end-of-day data. NSE Indices says the Nifty 500 draws its 500 constituents from an eligible universe using market capitalization and average daily turnover.
Piramal Pharma announced second-quarter FY27 results on Oct. 27 for the quarter ended Sept. 30. Revenue from operations totaled ₹2,617 crore, 28% higher than a year earlier. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached ₹385 crore, up 72%, while profit after tax was ₹5 crore, compared with a ₹99 crore loss in the year-earlier quarter.
The company raised its FY27 revenue-growth outlook to 19% to 20%. Chairperson Nandini Piramal said the contract development and manufacturing organization business led performance, citing order inflows and execution. The company also said it expected meaningfully higher profitability, without setting a numerical target. EconoTimes previously covered the company’s return to quarterly profit and higher revenue.
The Economic Times did not identify a specific driver for the four stocks’ gains, and Piramal Pharma’s results release did not connect the earnings announcement to its Oct. 28 share performance.
