Top Trading Ideas: Lux Industries

Top Trading Ideas: Lux Industries

by 5paisa Research Team Last Updated: Dec 13, 2022 - 06:13 am 46.2k Views

The company recently posted its quarterly numbers which contained double-digit growth on every front.

Lux Industries Limited is engaged in the business of manufacturing and sale of knitwear. Its brands include Lux Cozi, Lux Venus, Lux Karishma, Lux Touch, Lux Bigshot and Lux Classic. The clothing company is a midcap company with a market cap of Rs. 13,848 crore. The company has strong financials and has reported higher than industry revenue growth and net income. Not only that, but the company has also witnessed an increase in market share from 2.36% to 5.12% in the last five years. This certainly shows that the company is on the right track with its business performance and is quite evident with its movement in the stock price.

The stock has performed exceptionally well by delivering awesome returns of 178% YTD. On a YoY basis, the stock has gained 205% and it has also gained 14.53% in three months. This shows that the stock is in no mood to stop its momentum. Lux industries recently posted its quarterly numbers which contained double-digit growth on every front. Strong management commentary regarding their business boosted investors’ confidence.

On Wednesday, the stock has logged a fresh all-time and is currently trading 8.82% up at Rs 4594.

The stock trades well above its key moving averages and RSI is going strong at 85. Huge volumes have been recorded in the last couple of days indicating higher institutional activity. The positive directional movement (+DMI) crossed the -DMI a few trading sessions back and currently it is well above it. It shows strong strength. The above parameters suggest that the stock is in super bullish mode and shows no signs of stopping as it heads into uncharted territory.

Considering the performance Lux Industries has shown, we can expect the stock to continue its momentum on the higher side. Traders can expect some good returns for the short to medium term as the technical analysis validate our point.

Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
NSE Awaits SEBI Approval for Extended F&O Trading Hours

The National Stock Exchange (NSE) is considering a significant shift in its trading hours, potentially introducing extended sessions for equity derivatives.

  • Sep 25, 2023
Delta Corp crashes 20%, After Receiving ₹16,822 Crore Tax Notice

Delta Corp Ltd, a prominent gaming company, saw its stock plummet by 20% during the intraday session on the Bombay Stock Exchange (BSE), touching its 52-week low of ₹140.20.

  • Sep 25, 2023
Bajaj Finance Plans $800 Million to $1 Billion Fundraising for Expansion

Bajaj Finance, a leading non-banking financial company (NBFC), is preparing for a fundraising endeavor, aiming to secure between $800 million to $1 billion.

  • Sep 25, 2023