Priyanka Tiwari
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Suspense crime, Digital Desk : Shares of Reliance Home Finance Ltd (RHFL) continued their remarkable upward momentum, locking in the upper circuit limit on the BSE for the fifth consecutive trading session today. The penny stock, which trades below ₹5, has been attracting significant buyer interest, leading to this sustained rally.
Today, the share price of Reliance Home Finance climbed by its maximum permissible daily limit of 5% to reach ₹4.57. This consistent upward movement has resulted in the stock gaining nearly 20% over the past five trading days, a notable performance for a stock in this price category.
An upper circuit is triggered when a stock's price rises to a point where trading is temporarily halted because there are only buyers and no sellers at that particular price or within the circuit filter limit, indicating strong demand and positive sentiment surrounding the scrip.
For Reliance Home Finance, this five-day streak of hitting the upper circuit suggests a strong accumulation or renewed investor interest, though the specific reasons behind such a sharp rally in a penny stock are often speculative and can carry higher volatility.
Investors tracking penny stocks are keenly observing RHFL's performance. While such rallies can offer quick gains, it's crucial for market participants to exercise caution and conduct thorough due diligence, as stocks in this segment are generally associated with higher risk. The continued interest will be tested in subsequent trading sessions to see if the momentum can be maintained.
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