White Organic shares recover 10% from 52-week low; gain after 20 sessions

Shares of White Organic Retail Ltd hit a fresh 52-week low in early trade today. However, the stock of the integrated organics foods company was stuck in the upper circuit of 5% in the afternoon session. White Organic Retail shares opened 5% lower at a 52-week low of Rs 19.95 against the previous close of Rs 21 on BSE. 

However, the stock erased losses and hit upper circuit of 5% at Rs 22.05 in the afternoon session. Market cap of White Organic Retail rose to Rs 72.16 crore.

The share has fallen 88.6% in a year and lost 85.47% this year.  It has declined 60% in a month. Total 23.60 lakh shares of the firm changed hands amounting to a turnover of Rs 4.99 crore on BSE.  

In terms of technicals, the relative strength index (RSI) of the stock stands at 8, signaling it's trading in the oversold zone. White Organic Retail shares have a beta of 0.4, indicating very low volatility in a year. White Organic Retail shares are trading lower than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  

One promoter held 35.45 per cent stake in the firm and 5735 public shareholders owned 64.55% for the quarter ended December 2022. Of these, 5527 public shareholders held 19.09 lakh shares or 5.83% stake with capital up to Rs 2 lakh. 76 public shareholders with 46.44% stake held capital above Rs 2 lakh for the quarter ended December 2022.   

White Organic Retail is an integrated organic foods company offering end-to-end solutions to its customers. The company is into trading agricultural produce such as cereals, pulses, grains, fruits, and vegetables, among others. Its products include toor dal, chana dal, black gram, black sesame, black-gram dal, brown rice, cashew, green gram, green peas, pepper, Himalayan salt, turmeric powder, raw sugar, matki, Kabuli chana, mix dal, parmal rice, poha, fenu greek, garam masala, red rice, sing dana, and others.

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