Thirumalai Chemicals adds 17% in two days

Thirumalai Chemicals jumped 5.45% to Rs 66.75, advancing for second day in a row.

The stock has added 16.9% in two sessions from its recent closing low of Rs 57.10 on 17 August 2020.

During the same period, the S&P BSE Sensex and the S&P BSE SmallCap index have gained 1.6% and 2.3%, respectively.

On the BSE, the counter clocked a volume of 1.23 lakh shares as against its average trading volume of 0.73 lakh shares in the past one quarter. The stock jumped 6.64% to hit a high of Rs 67.5 on BSE today. Over 40% of the total traded quantity is marked for delivery as per BSE data at 11:25 IST.

On the NSE, the scrip jumped 5.29% to Rs 66.70. The counter clocked a volume of 12.12 lakh shares as compared with its average trading volume of 5.96 lakh shares in the past one quarter. The stock spurt 6.7% to hit a high of Rs 67.6 on NSE in trade today. Over 50% of the total traded quantity is marked for delivery as per NSE data at 11:00 IST.

On the technical front, the stock's RSI (relative strength index) stood at 67.288. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is currently trading above its 50-day, 100-day and 200-day simple moving averages placed at 55.44, 48.78 and 56.35, respectively.

On a consolidated basis, the company reported a net loss of Rs 20.10 crore in Q1 FY21 as against a net profit of Rs 12.09 crore in Q1 FY20. Net sales during the quarter tumbled 60.9% YoY to Rs 113.49 crore.

Thirumalai Chemicals manufactures and sells organic chemicals in India. It serves the plastics, paints, food, cosmetic, and pharmaceutical industries. The company also exports its chemical products to approximately 34 countries.

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