Stock Under Rs 50: NECC Shares Zoom 16 pc Intraday on Broader Market Rally

North Eastern Carrying Corporation (NECC) share price touched an intraday high of Rs 29.99 per share on the National Stock Exchange (NSE) today, zooming 15.61 per cent from its previous close of Rs 25.94 apiece, outperforming the sector by 12.04 per cent. The counter has been gaining for the last two days and has risen 14.1 per cent returns in the period. The scrip opened with a gain of 2.16 per cent while trading in a wide range of Rs 4.44.

The stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. At the time of filing this report, the stock was trading at a price of Rs 29 per share, rising 11.80 per cent.

A total of 5.89 lakh shares changed hands today of North Eastern Carrying Corporation generating a total turnover of Rs 1.68 crore. The micro cap company has a market cap of Rs 276.36 crore, as per BSE website. The shares of the company have a PE of 39.38x. In volume terms, over 36.94 lakh shares of the company were traded on the NSE during the day.

Meanwhile, in broader market the equity benchmark indices started the trade on an optimistic note on Wednesday, with the Sensex breaching the historic 80,000-mark for the first time ever and the Nifty hitting its fresh lifetime high, amid heavy buying in bank stocks and firm global market trends. The 30-share BSE Sensex jumped 597.77 points to hit a new lifetime high of 80,039.22. The Nifty climbed 168.3 points to hit a fresh record peak of 24,292.15.

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