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Data Patterns shares climb 10%, log highest turnover; here’s why

Data Patterns shares climb 10%, log highest turnover; here’s why

Data Patterns stock climbed 9.69% to Rs 2,035.15 on the BSE. Trading volumes also spiked to 61 lakh shares, higher than the one-month daily traded average of 1 lakh shares.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Feb 16, 2024 11:20 AM IST
Data Patterns shares climb 10%, log highest turnover; here’s why Data Patterns stock is trading higher than the 5 day, 10 day, 20-day, 100-day and 200-day averages.
SUMMARY
  • Data Patterns shares have gained 42.66% in a year and risen 9% since the beginning of this year.
  • The stock has a one-year beta of 0.2, indicating low volatility during the period.
  • The stock has a one-year beta of 0.2, indicating low volatility during the period.

Shares of Data Patterns (India) Ltd zoomed 10% today amid a report that shares worth Rs 1,100 crore changed hands in a block deal on February 16. Data Patterns stock climbed 9.69% to Rs 2,035.15 on the BSE. Trading volumes spiked to 61 lakh shares, higher than the one-month daily traded average of 1 lakh shares.

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The firm also logged highest turnover of Rs 1,118.96 crore on BSE.

The block deal involved transaction of about 60 lakh shares representing a 10.7 percent stake in the company, said a CNBC TV18 report. Details of the buyers and sellers in the deal were not immediately known.

Data Patterns stock opened higher at Rs 1885.10. Market cap of the firm rose to Rs 11207.99 crore. Data Patterns shares have gained 42.66% in a year and risen 9% since the beginning of this year.

The stock has a one-year beta of 0.2, indicating low volatility during the period.

In terms of technicals, the relative strength index (RSI) of Data Patterns stands at 45, signaling neither the stock is overbought nor oversold. Data Patterns stock is trading higher than the 5 day, 10 day, 20-day, 100-day and 200-day averages.

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Data Patterns (India) Limited is an India-based vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defense products industry. Its portfolio includes COTS Boards, ATE and Test systems, Space Systems, and Radio Frequency and Microwave. It designs COTS module products that are used in rugged applications and automatic test equipment platforms.   

 

Also read: Stock recommendations by analyst for February 16: Tata Power, EIH and SJVN

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Feb 16, 2024 11:20 AM IST
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