Data Patterns share price jumps 9%, what's driving the rally?
₹2,035 on the NSE during pre-open trade on Friday, driven by a significant block deal worth ₹1,100 crore. Approximately 60 lakh shares were traded in this substantial transaction, according to a report by CNBC TV18. Also read: TVS Motor market cap surpasses ₹1 lakh crore mark, share price hits 52-week high A foreign entity acted as the seller in the Data Patterns block deal, while a group of foreign institutional investors (FII) and domestic institutional investors (DII) were among the anticipated buyers, as per sources quoted by the report.
However, the identities of the buyers and sellers involved in the block deal are yet to be officially disclosed. As of 2:14 pm today, the stock was trading 8.64% higher at ₹2,014.90 per share on the NSE. Over the past 12 months, Data Patterns shares have yielded returns of more than 40%, with a year-to-date return for 2024 standing at 9.46%.
Data Patterns stock exhibits a 14-day relative strength index (RSI) of 45, indicating that it is neither oversold nor overbought. Furthermore, with a one-year beta of 0.2, the stock demonstrates very low volatility, as per data sourced from Trendlyne. Also read: Defence stocks rise as DAC sanctions ₹80,000 crore project; HAL up 2%; MTAR Tech, Bharat Forge see sharp gains Presently, Data Patterns shares are trading above their 20-day, 50-day, 100-day, and 200-day simple moving averages (SMA).
Data Patterns (India) Limited is an Indian-based defense and aerospace electronics solutions provider with a vertical integration approach, serving the domestically developed defense products industry. Its offerings encompass COTS Boards, ATE and Test systems, Space Systems, and Radio Frequency and Microwave products. The company specializes in designing COTS
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