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Awfis Space Solutions Surges Despite Market Pressure; Experts Differ
Awfis Space Solutions shares rose sharply even though the wider stock market fell.
The Sensex and Nifty 50 were hurt by higher crude oil prices, tensions in West Asia, and foreign investor selling.
The Awfis stock opened at ₹249.90 and climbed as high as ₹299.
One expert said the company’s share-price trend is still weak and needs to cross ₹325–₹330 to improve.
Another expert said strong buying and trading volumes could push the stock higher.
The second expert sees ₹320 as resistance and ₹264 as support.
Awfis also reported much higher profit and revenue for the June quarter.
The company operates flexible-workspace centres in 18 cities, but its overall occupancy was 76%.
Awfis Space Solutions shares opened at ₹249.90 and reached an intraday high of ₹299 on the BSE.
The stock gained nearly 20%, supported by strong trading volumes, while the Sensex and Nifty 50 declined.
SBI Securities’ Sudeep Shah said the broader trend remains weak and identified resistance at ₹325–₹330.
My Advisor Alpha’s Rajesh Bhosale said the stock’s move could extend, with ₹320 as resistance and ₹264 as support.
Awfis reported June-quarter net profit of ₹23.93 crore and revenue of ₹448.87 crore, while operating 251 centres across 18 cities.
- Who
- Awfis Space Solutions, along with analysts Sudeep Shah of SBI Securities and Rajesh Bhosale of My Advisor Alpha.
- What
- Awfis shares rose nearly 20% despite declines in the Sensex and Nifty 50.
- Where
- On the BSE and across Awfis’s flexible-workspace network in India.
- When
- Friday, 11 September; the article cites prices at 14:18 IST.
- Why
- The stock’s rise was supported by strong volumes and improved quarterly results, while the broader market faced pressure from higher crude oil prices, West Asia tensions, negative global cues, and foreign fund outflows.
Cautious Technical View
Optimistic Technical View
Near-term share-price direction
Cautious Technical View
Sudeep Shah said the stock remains below key weekly moving averages, while falling ADX and a MACD line below zero suggest that a strong bullish trend has not yet formed.
Optimistic Technical View
Rajesh Bhosale said the stock rose 17%, engulfed the previous 15 trading candles, and moved above key moving averages, indicating that the rally could continue.
Important price levels
Cautious Technical View
Shah placed immediate resistance at ₹325–₹330 and said a sustainable trend reversal is unlikely below that zone.
Optimistic Technical View
Bhosale identified ₹320 as the next resistance and ₹264 as immediate support for the stock.
Key facts
- Awfis opening price
- ₹249.90 per share on the BSE
- Intraday range
- ₹244.45 low to ₹299 high
- June-quarter net profit
- ₹23.93 crore, compared with ₹10.03 crore a year earlier
- June-quarter total income
- ₹448.87 crore, compared with ₹353.04 crore in the corresponding period
- Operating footprint
- 251 coworking centres across 18 cities
- Network capacity
- Around 1.7 lakh seats
- Portfolio occupancy
- 76% during the quarter
Sources
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