Navin Fluorine hits record high; climbs 7% in five days

Navin Fluorine International was up 0.52% to Rs 2608.65, extending its winning run to fifth consecutive trading session.

The counter has gained 7.26% in five trading sessions from its previous closing low of Rs 2432 on 11 November 2020. The stock hit a record high of Rs 2,621 in intraday today. The counter is up 210% from its 52-week low of Rs 840.25 hit on 2 December 2019.

On BSE, 77,000 shares were traded so far as compared to a 2-week daily average of 9,518 shares. The stock has outperformed the market over the past one month, up 27.35% compared with 8.71% rise in the Sensex.

On the technical front, the stock's RSI (relative strength index) stood at 72.13. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 2171.14 and 2024.56 respectively. These levels will act as crucial support zones in near term.

The chemical maker posted a 43% jump in consolidated net profit to Rs 67.81 crore in Q2 September 2020 from Rs 47.34 crore in Q2 September 2019. Consolidated net sales for Q2 September 2020 stood at Rs 318.92 crore, rising 17% from Rs 272.94 crore in Q2 September 2019.

Operating EBITDA grew 33% to Rs 90.7 crore in Q2 September 2020 over Q2 September 2019. EBITDA margin improved to 28.4% in Q2 September 2020 from 25% in Q2 September 2019.

Navin Fluorine International is one of the manufacturers of speciality fluorochemicals.

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