Dolly Khanna stock Nile Ltd hits 20% upper circuit. It is a proxy for the booming EV sector

Dolly Khanna holds 1.10% stake or 32,923 shares in Nile Ltd at the end of June 2024 quarter. The stock surged 20% to a record high of Rs 1970 on Friday against the previous close of Rs 1647.50 on BSE. The Company's market cap is ₹549.35 crore.

NILE is engaged in secondary manufacturing of Pure Lead and Lead Alloys. It has two secondary Lead recycling plants located at Choutuppal (60 km from Hyderabad) and at Tirupati (120 km from Chennai). The combined capacity of these two plants is 107000 tons of Lead and Lead Alloys per annum.

Technical experts cautioned that the stock may be overbought as the relative strength index (RSI) of the stock is 76. The stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. It has gained 130 per cent in a year and risen 342.80 per cent in two years.

Fundamental experts say the Nile Ltd is a good investment in the long-term as it supplies lead to Amara Raja and Exide and is a good proxy for the Elecetric Vehicles sector.