Simplex Infrastructures Ltd Sees Strong Buying Activity Amidst Significant Price Gains

Simplex Infrastructures Ltd is currently witnessing significant buying activity, with the stock gaining 5.00% today, outperforming the Sensex, which rose by only 0.20%. Over the past week, Simplex Infrastructures has shown a robust performance, increasing by 9.03%, compared to the Sensex's 1.92% gain. Notably, the stock has been on a positive trajectory for the last six days, accumulating a total return of 14.63% during this period.
The stock opened with a gap up of 4.54% today and reached an intraday high of Rs 273, reflecting a 5% increase. Despite a challenging performance over the past month and quarter, where it recorded declines of 1.02% and 19.11% respectively, the stock has demonstrated remarkable growth over the longer term. Over the past year, it has surged by 226.75%, significantly outpacing the Sensex's 4.77% increase.

Factors contributing to the current buying pressure may include recent positive sentiment in the capital goods sector and the stock's relative strength compared to its moving averages, which are higher than the 5-day, 20-day, and 200-day averages.