Polychem spurts 45% in six days

14 Jan 2022 , 11:37 AM

The stock has added 44.59% in six consecutive sessions.

On a year-to-date (YTD) basis, the stock has risen 74.37% while the benchmark Sensex has added 22.75% during the same period.

On the technical front, the stocks RSI (relative strength index) stood at 71.61. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 610.16, 574.85 and 529.88, respectively.

Polychem reported net loss of Rs 0.15 crore in Q2 September 2021 as against net profit of Rs 0.04 crore in Q2 September 2020. Net sales rose 39.11% to Rs 8.11 crore in Q2 September 2021 over Q2 September 2020.

Polychem poineered the production of styrene, polystyrene, vinyl acetate & polyvinyl alcohol in the country. It specialises in manufacture of polymers & co-polymers from styrene, divinyl benzene, acrylic acid and acrylates through either suspension polymerization route or emulsion polymerization route.

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