Aequs share price rallied over 4% on Thursday, led by strong buying momentum. The stock gained as much as 4.5% to Rs 256.35 apiece on the BSE.
The rally in Aequs shares was supported by robust volumes. Around 35 lakh equity shares of Aequs changed hands on stock exchanges on September 3, as compared with its one-week average trading volume of 19 lakh shares.
Aequs is engaged in manufacturing and operating a special economic zone in India. Its product portfolio includes components for engine systems, landing systems, cargo and interiors, structures, assemblies and turning for the aerospace clients.
Aequs share price has gained 8% in one month, and has rallied over 37% in three months. The stock has surged more than 80% in six months.
On the technical front, Aequs stock price has been consolidating within the Rs 274–215 range since 22nd June.
“The RSI has remained largely flat during this period, reflecting a sideways price bias. The stock has faced resistance twice in the Rs 270 – Rs 275 zone, while the declining ADX indicates subdued volatility and a lack of trend strength,” said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
According to him, a decisive breakout on either side of the range will provide further directional cues.
At 11:50 PM, Aequs share price was trading 2.55% higher at Rs 251.55 apiece on the BSE.
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