In the dynamic world of stock trading, hitting short-term moving averages is a significant achievement that often indicates upward momentum. On August 31, 2023, several midcap stocks successfully crossed their 20-day Simple Moving Averages (SMA), demonstrating their resilience and potential for growth. Let’s explore the performance of these stocks.
1. CG Power and Industrial Solutions
CG Power and Industrial Solutions exhibited strong momentum by surpassing its 20-day SMA of Rs 412.12 on August 31. The company, closing at Rs 429.35, specializes in electrical equipment and solutions.
2. IIFL Finance
IIFL Finance demonstrated robust growth by exceeding its 20-day SMA of Rs 582.87 on August 31. With a closing value of Rs 606.7, the company offers a wide range of financial services.
3. Motherson Sumi Wiring India
Motherson Sumi Wiring India showcased impressive momentum by crossing its 20-day SMA of Rs 59.98 on August 31. The company, closing at Rs 62.1, is a key player in the automotive industry, specializing in wiring solutions.
4. HDFC Asset Management Company
HDFC Asset Management Company demonstrated strong growth by surpassing its 20-day SMA of Rs 2501.33 on August 31. The company is a prominent player in the asset management industry.
5. Kajaria Ceramics
Kajaria Ceramics achieved a noteworthy feat by exceeding its 20-day SMA of Rs 1458.16 on August 31. The company, closing at Rs 1470.75, is a leading ceramic tile manufacturer.
6. L&T Finance Holdings
L&T Finance Holdings demonstrated robust momentum by crossing its 20-day SMA of Rs 124.08 on August 31. The company offers a wide range of financial products and services.
7. Devyani International
Devyani International showcased promising growth by surpassing its 20-day SMA of Rs 194.75 on August 31. The company operates in the quick-service restaurant (QSR) industry.
8. Page Industries
Page Industries achieved a significant milestone by surpassing its 20-day SMA of Rs 39970.98 on August 31. The company is known for its iconic innerwear brand, Jockey.
9. LIC Housing Finance
LIC Housing Finance demonstrated strong momentum by crossing its 20-day SMA of Rs 422.62 on August 31. The company is a key player in the housing finance sector.
10. UNO Minda
UNO Minda showcased impressive growth by surpassing its 20-day SMA of Rs 601.58 on August 31. The company is involved in manufacturing automobile components.
(Disclaimer: This is an AI-generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
