NACL Industries rose 4.43% to Rs 49.45 after consolidated net profit surged 293.7% to Rs 5.59 crore on 32% jump in net sales to Rs 252.02 crore in Q1 June 2020 over Q1 June 2019.
Consolidated profit before tax (PBT) soared 413.7% to Rs 8.27 crore in Q1 June 2020 over Q1 June 2019. Current tax expense jumped 900% year-on-year to Rs 3.10 crore during the quarter. The result was declared during trading hours today, 27 August 2020.
On the technical front, the stock's RSI (relative strength index) stood at 70.886. 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 moving average (DMA) placed at 40.22 and its 200-day moving average (DMA) placed at 30.28.
NACL Industries, formerly Nagarjuna Agrichem, is holding company, which is engaged in the business of agri inputs. The company is involved in the business of crop protection. It manufactures technicals (active ingredient (AI)) and formulations.
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