Sharda Cropchem spurts 26% in five days

Sharda Cropchem surged 17.50% to Rs 509.05, extending gains for the fifth trading session.

Shares of Sharda Cropchem have jumped 26.02% in five trading sessions.

The stock had outperformed the market over the past one month, soaring 24.88% compared with 3.12% rise in the Sensex.

The scrip underperformed the market in past three months, sliding 3.71% as against Sensex's 6.09% rise.

The scrip had also outperformed the market in past one year, spurting 59.3% as against Sensex's 8.94% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 75.11. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 20-day, 50-day and 100-day simple moving average (SMA) placed at 403.87, 418.95 and 484.32, respectively.

Sharda Cropchem is a global agrochemicals company with leadership position in the generic crop protection chemicals industry.

On a consolidated basis, net profit of Sharda Cropchem declined 62.24% to Rs 12.09 crore on 12.25% rise in net sales to Rs 721.50 crore in Q2 September 2022 over Q2 September 2021.

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