FACT spurts 54% in five sessions

Fertilizers & Chemicals Travancore (FACT) hit an upper circuit limit of 5% at Rs 371.70, extending gains for the fifth trading session.

Shares of FACT have jumped 53.69% in five consecutive sessions.

The stock outperformed the market over the past one month, soaring 154.50% compared with 2.89% decline in the Sensex.

The scrip outperformed the market in past one quarter, surging 241.79% as against Sensex's 6.70% rise.

The scrip outperformed the market in past one year, soaring 177.60% as against Sensex's 6.02% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 80.24. 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 173.79, 146.33 and 132.29, respectively. These levels will act as crucial support zones in near term.

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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