National Peroxide corrects after 5-day rising streak

National Peroxide fell 4.27% to Rs 2454.05 on profit booking after rising in the past five sessions.

Shares of National Peroxide jumped 17.10% to settle at Rs 2,563.50 on Wednesday (15 September) from its recent closing low of Rs 2,189.20 on 7 September 2021.

The stock hit a 52-week high of Rs 2,900 on 9 April 2021. It has risen 34.47% from its 52-week low of Rs 1,825 hit on 17 February 2021.

In the past one month, the stock has jumped 8.47% as against 6.47% rise in the Sensex. It has risen 10.57% in the past one year compared with 5.57% surge in the Sensex.

On the technical front, the stock's RSI (relative strength index) stood at 52.53. 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 simple moving average (SMA) placed at 2356.12 and 200-day SMA at 2225.16.

On a consolidated basis, National Peroxide reported net loss of Rs 10.65 crore in Q1 June 2021 as against net loss of Rs 1.79 crore in Q1 June 2020. Net sales declined 5.84% to Rs 28.68 crore in Q1 June 2021 over Q1 June 2020.

National Peroxide is in the business of peroxide chemicals and is the largest manufacturer of Hydrogen Peroxide in India.

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