RattanIndia Enterprises shares rallied 40% in 4 sessions; technicals flash overbought signal

Shares of RattanIndia Enterprises Ltd soared 12.57 per cent in Wednesday's trade to hit a high of Rs 66.40, extending their solid run for the fourth consecutive session. At the day's high value, the stock has zoomed 40.08 in a span of just four trading days.

The counter recorded heavy trading volume today, accompanied by significant price action. Last checked, around 1.29 crore shares changed hands today on BSE. The figure was higher than the two-week average volume of 10.68 lakh shares. Turnover on the counter came at Rs 83.14 crore, commanding a market capitalisation (m-cap) of Rs 9,040.04 crore. There were sell 11 lakh sell order as against buy orders worth 6.85 lakh shares.

Technically, the scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 85.06. A level below 30 is defined as oversold while a value above 70 is considered overbought.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said the stock has witnessed a decisive spurt in price and volume. "The support has now been uplifted towards the Rs 60-58 zone, followed by Rs 52-50 levels. While on the higher end, the next potential resistance is visible around Rs 72-odd levels," Krishan also said.

Sebi-registered independent research analyst AR Ramachandran noted that RattanIndia Enterprises has turned bullish but overbought on daily charts with the next resistance at Rs 67. "Investors should be booking profits as a daily close below support of Rs 62.5 could lead to a downward target of Rs 52 in the near term," he stated.

The company's stock has a price-to-earnings (P/E) ratio of 21.49 against a price-to-book (P/B) value of 5.20. Earnings per share (EPS) stood at 2.75 with a return on equity (RoE) of 24.22. According to Trendlyne data, RattanIndia Enterprises has a one-year beta of 1.4, indicating high volatility.

The company is the flagship entity of the RattanIndia Group, driving its foray into new-age, high-growth sectors. Its portfolio spans across tech-driven industries such as e-commerce, electric vehicles, fintech and drones. As of March 2025, promoters held a 74.86 per cent stake in the firm.