FACT hits 52 week high, jumps 39% in two days

Fertilizers & Chemicals Travancore (FACT) rallied 16.21% to Rs 259.85, extending gains for the second trading session.

Shares of FACT surged 39.26% in two consecutive sessions.

On the BSE, 12.67 lakh shares were traded in the counter so far compared with average daily volumes of 3.61 lakh shares in the past two weeks.

The stock hit 52-week high of Rs 267.40 today, 16 December 2022. The stock hit a 52-week low of Rs 82.60 on 20 Jun 2022.

The stock had outperformed the market over the past one month, advancing 104.61% compared with 0.32% fall in the Sensex.

The counter had outperformed the market in past one quarter, surging 111.43% as against Sensex's 5% rise.

The scrip had also outperformed the market in past one year, rising 119.65% as against Sensex's 6.7% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 85.191. 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 was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 137.72, 127.41 and 123.12 respectively.

FACT is engaged in the manufacturing of Fertilizers, which is an essential input for agriculture.

The company's consolidated net profit surged 296.7% to Rs 144.60 in Q2 FY23 as compared to Rs 36.45 crore in Q2 FY22. Net sales jumped 147.6% year on year to Rs 1,935 crore in Q2 FY23.

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