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“We feel that companies like Maruti and Motherson Sumi would be a bigger beneficiaries of improvement in chip supply. ”

The Relative Strength Index of the stock stood at 76.51 on Wednesday.

Lumax Industries Ltd., incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 1373.60 Crore) operating in Auto Ancillaries sector.

Promoters held 74.36 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 17.0 per cent and 2.35 per cent, respectively.

The smallcap stock has rallied more than 800 per cent from Rs 8.56 to Rs 82.45 on Wednesday.

A total of 11,156 shares changed hands on the counter till 11:50AM (IST).

The Relative Strength Index of the stock stood at 72.17 on Wednesday.

“On the technical front, the key resistance levels for Nifty50 are 18,100 followed by 18,200 and on the downside 17,850 followed by 17,800 can act as strong support,” said Mohit Nigam, Head - PMS, Hem Securities.

“We are not just an aggregator, we are an accelerator of brands. Mensa means constellation. We are trying to build a constellation of stars. Each of our brands is a star.”

Gold futures on MCX were trading marginally higher by 0.11 per cent or Rs 53 at Rs 49,090 per 10 grams. Silver futures were up 0.27 per cent or Rs 179 at Rs 66,413 per kg.