Privi Speciality Chem rises for seventh day

Privi Speciality Chemicals rose 4.30% to Rs 1,409.05, extending gains for the seventh session.

The stock has added 30.04% in seven sessions, from its recent closing low of Rs 1,083.55 recorded on 24 June 2021.

The scrip surged 5.72% to hit the day's high at Rs 1,428.25, which is a record-high for the counter.

On a year-to-date (YTD) basis, the stock has zoomed 164.61% while the benchmark Sensex has added 10.66% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 79.178. 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 daily simple moving average (SMA) placed at 1066.09, 898.94 and 731.61, respectively.

Privi Speciality Chemicals (formerly known as Fairchem Speciality) is one of India's leading bulk manufacturer, supplier and exporter of aroma chemicals.

The company's consolidated net profit increased 70.8% to Rs 59.86 crore in Q4 FY21 from Rs 35.04 crore in Q4 FY20. Net sales during the quarter improved 14.2% to Rs 353.11 crore compared with the same period last year.

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