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Business News/ Markets / Stock Markets/  Bombay Burmah Trading share price locked at 20% upper circuit to hit 52-week high
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Bombay Burmah Trading share price locked at 20% upper circuit to hit 52-week high

Bombay Burmah Trading Corp commanded a market capitalisation (m-cap) of ₹9,911.10 crore on BSE.

Bombay Burmah Trading shares were locked at 20% upper circuit at ₹1,420.50 apiece on the BSEPremium
Bombay Burmah Trading shares were locked at 20% upper circuit at 1,420.50 apiece on the BSE

Bombay Burmah Trading Corp share price witnessed a massive surge to hit a 52-week high on Friday. Bombay Burmah Trading shares were locked at 20% upper circuit at 1,420.50 apiece on the BSE, which is also its 52-week high price.

Around 1.98 lakh shares of Bombay Burmah Trading Corp changed hands today on BSE. The figure was way more than the two-week average volume of 3,959 shares, according to a Business Today report. Turnover on the counter stood at 27.51 crore. 

Bombay Burmah Trading Corp commanded a market capitalisation (m-cap) of 9,911.10 crore on BSE.

On the technical charts, the stock has given a breakout above the 1,300 zone and the indicates bullish candle pattern.

“The stock with a series of higher bottom formation patterns visible on the daily chart in the past 5-6 months, has given a breakout above the 1,300 zone, picking up from the support level of 1,160 of the significant 50EMA (Exponential Moving Average) zone, to indicate a strong bullish candle pattern with tremendous volume participation," said Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher Pvt Ltd.

According to him, with the trend turning strong, further rise can be anticipated for the next target of 1,560 levels with support maintained near 1,280 and further with strength sustaining can carry on the momentum for next higher target of 1,780-1,800 levels for the medium term time frame.

Bombay Burmah share price has witnessed a decent growth this year. The stock has rallied over 20% in one month and more than 28% in the last three months. Bombay Burmah Trading shares are up over 56% year-to-date (YTD) and over 58% in the last one year.  

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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 20 Oct 2023, 02:16 PM IST
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