Shares of BSE smallcap gained over 8 per cent on Friday as the market rebounded following Reserve Bank of India’s decision to cut repo rate by 50 basis points (bps) to 5.50 per cent. The stock started the session at Rs 97.83, with a small gain from the previous close of Rs 96.22 on the BSE. The counter gained further to touch the high of Rs 103.94 – a jump of 8.02 per cent from the closing price of the last trading session. The stock, which has outperformed the sector by 5.03 per cent, trades higher than the 5-day, 20-day and 50-day moving averages but lower than the 100-day and 200-day moving averages.
This metal stock gains 8% as market rebounds after RBI cuts repo rate
