Alkyl Amines slipped 4.51% to Rs 2,598.80 extending its losing run to sixth consecutive trading session.
Shares of Alkyl Amines slumped 15% in six trading sessions from its previous closing high of Rs 3,057.70 posted on 17 May 2022. The stock hit its 52-week low today at Rs 2,585.10 in intraday today. The counter has declined nearly 46% from its 52-week high of Rs 4,740 posted on.The specialty chemical maker witnessed selling pressure after it reported weak Q4 earnings on 19 May 2022. The company's net profit fell 49.87% to Rs 46.42 crore in Q4 FY22 from Rs 92.60 crore posted in Q4 FY21. Revenue from operation stood at Rs 425.64 crore for the quarter ended 31 March 2022 as against Rs 382.13 crore during the same period in the previous year, registering a growth of 11.39%.
Profit before tax stood at Rs 64.63 crore in the fourth quarter, down by 48.76% from Rs 126.13 crore in the same period last year. The company reported a 41.55% jump in total expenditure to Rs 364.43 crore in Q4 FY22 over Q4 FY21.
In last one month, the stock has declined 16.4% underperforming the benchmark Nifty 50 index which fell 5.1% in the same period.
On the technical front, the stock's RSI (relative strength index) stood at 24.228. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
Also Read
The stock is trading below its 50,100 and 200 days simple moving average placed at 3018.83, 3148.14 and 3427.17 respectively. These levels will act as crucial resistance zones in near term.
Alkyl Amines Chemicals is in the business of manufacturing and marketing various aliphatic amines, amine derivatives and other speciality chemicals. The company supplies amines and amine-based chemicals to the pharmaceutical, agrochemical, rubber chemical and water treatment industries, among others.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
