Poly Medicure rises nearly 15% in six sessions

Poly Medicure surged 6.03% to Rs 1,038.50, extending gains for sixth day in a row.

The stock has added 14.70% in six sessions, from its recent closing low of Rs 905.40 recorded on 18 November 2021.

On a year-to-date (YTD) basis, the stock has zoomed 103.72% while the benchmark Sensex has added 19.95% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 74.539. 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, 100-day and 200-day simple moving average (SMA) placed at 938.32, 948.03 and 915.29, respectively.

Poly Medicure is one of the leading medical devices company and exporter in India. It has 5 manufacturing facilities in India (3 facilities in Faridabad and 1 each in Jaipur and Haridwar), 3 facilities overseas (one facility in Italy - wholly owned subsidiary, one facility in China - wholly owned subsidiary and one joint venture in Egypt).

On a consolidated basis, net profit of Poly Medicure rose 9.20% to Rs 38.23 crore on 11.89% rise in net sales to Rs 223.37 crore in Q2 September 2021 over Q2 September 2020.

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