Aarti Drugs slips for second day

Aarti Drugs fell 2.24% to Rs 552.65, extending decline for second day.

The stock has lost 4.44% in two sessions, from its recent closing high of Rs 578.35 recorded on 13 December 2021.

The scrip is currently trading 34.32% lower from its 52-week high of Rs 841.40 hit on 14 May 2021. It has gained 12.52% from its 52-week low of Rs 491.15 hit on 23 November 2021.

In the past one year, the stock has declined 28.92% while the benchmark Sensex has added 24.86% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 52.018. 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 moving average (DMA) placed at 571.89, 603.68 and 661.32, respectively.

Aarti Industries is a manufacturer of specialty chemicals and pharmaceuticals.

The company's consolidated net profit declined 43.42% to Rs 42.59 crore as net sales remained flat at Rs 579.62 crore in Q2 FY22 over Q2 FY21.

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