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Biofil Chemicals at record high; jumps 98% in fourteen days

Capital Market 

Biofil Chemicals & Pharmaceuticals hit an upper circuit of 5% at Rs 238.7, extending its winning run to fourteenth consecutive trading session.

Shares of Biofil Chemicals were locked in an upper circuit of fourteenth day in a row. The counter has jumped 97.6% in fourteen trading sessions from its previous closing low of Rs 120.80 on 11 November 2020.

The counter hit a record high of Rs 238.70 in intraday today. The stock is up 3,544% from its 52-week low of Rs 6.55 registered on 25 March 2020.

On the technical front, the stock's RSI (relative strength index) stood at 94.132. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 108.07 and 69.37 respectively. These levels will act as crucial support zones in near term.

Biofil Chemicals & Pharmaceuticals (BCPL) manufactures pharmaceutical products.

On a standalone basis, the company's net profit rose 17.7% to Rs 93 lakhs on a 37.7% rise in net sales to Rs 16.02 crore in Q2 September 2020 over Q2 September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, December 02 2020. 10:11 IST