Valiant Organics jumps on bargain hunting

17 Aug 2022 , 01:14 PM

Shares of Valiant Organics tumbled 12.15% in the past seven sessions. On the BSE, 24,285 shares were traded in the counter so far compared with average daily volumes of 15,831 shares in the past two weeks. The stock hit a high of Rs 624 and a low of Rs 580.4 so far during the day. The stock hit a 52-week high of Rs 1674.50 on 12 October 2021. The stock hit a 52-week low of Rs 504.5 on 20 June 2022. The stock underperformed the market over the past one month, falling 1.22% compared with 12.01% increase in the Sensex. The scrip underperformed the market in past three months, falling 15.04% as against Sensexs 10.86% rise. The scrip had also underperformed the market in past one year, slumping 54.19% as against Sensexs 7.93% jump. On the technical front, the stocks daily RSI (relative strength index) stood at 48.21. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock is trading below its 100-day and 200 day simple moving average (SMA) placed at 714.77 and 897.05, respectively. These levels will act like resistence in the near term. Valiant Organics is focused on the manufacturing and marketing of specialty chemicals which find usage in a variety of industries, including agrochemicals, pharmaceuticals, dyes, pigments, and veterinary medications. Its key chemistries include Chlorination, Hydrogenation, Ammonolysis, Acetylation, Sulphonation, Methoxylation amongst others. On a consolidated basis, net profit of Valiant Organics declined 42.10% to Rs 15.43 crore on 8.96% rise in net sales to Rs 265.96 crore in Q1 June 2022 over Q1 June 2021. Powered by Capital Market – Live News