RIR Power Electronics stock surged 700% in two years

Shares of RIR Power have soared nearly 700% over the last two years, making it a standout stock. The stock rose by 664% in that period and gained 186% in the past year alone. It closed at Rs 300 on March 17, 2024. Recently, RIR Power stock reached an all-time high of Rs 4878 on September 26, 2024. However, it dropped to a 52-week low of Rs 780 on March 20, 2024. As of now, the stock is down about 52.84% from its peak. In today's trading session, the stock was locked in the upper circuit limit of 5% at Rs 2,300.60, an increase from the previous day's close of Rs 2,191.05. The company's market capitalization rose to Rs 1,765 crore. Today marks the third consecutive session where RIR Power hit the upper circuit. The stock was under additional surveillance because of its volatility, which means investors must meet stricter trading requirements. They need to provide 100% of the trade value upfront and can’t use intraday leverage. Despite its recent gains, RIR Power shares have seen a 40% decline over the past six months and a 26% drop in the last three months. A total of 6,440 shares traded hands today, generating a turnover of Rs 1.48 crore. Technical indicators show that RIR Power's relative strength index (RSI) is at 58.6, suggesting it is neither overbought nor oversold. The stock is currently trading above the 10, 20, and 30-day moving averages but below the 50, 100, 150, and 200-day averages. RIR Power Electronics manufactures various semiconductor devices and high-power equipment.