EDC Receives 'Strong Sell' Rating and Sees Bulk Deals on NSE

Energy Development Company (EDC), a microcap company in the power industry, has been given a 'Strong Sell' rating by MarketsMOJO. This comes after a series of bulk deals were made on the National Stock Exchange (NSE) on December 13, 2023.

According to the data, Gaurav Paliwal, a major shareholder of EDC, sold 2.8 lakh shares at a price of Rs 33.96 on NSE. On the same day, Nk Securities Research Private Limited bought 2.64 lakh shares at Rs 32.32 and later sold them at Rs 32.4. On December 11, 2023, Paliwal bought 2.4 lakh shares at Rs 26.03.

In terms of price performance, EDC has outperformed the sector by 3.64% today and has shown a trend reversal after three consecutive days of falling. The stock is also trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

On a broader scale, EDC has shown a 1-day performance of 3.45% compared to Sensex's 0.25% and a 1-month performance of 41.29% compared to Sensex's 3.94%. However, it is important to note that this information is based on past performance and does not guarantee future results.

With this recent rating and bulk deals, investors may want to closely monitor EDC's performance and do their own research before making any investment decisions. As always, it is recommended to consult with a financial advisor before making any investment.