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Gujarat Fluorochemicals rises for ninth day; adds over 236% this year

Capital Market 

Gujarat Fluorochemicals rose 3.07% to Rs 1,911.25, extending gains for ninth day in a row.

The stock had added by 13.15% in nine sessions, from its recent closing low of Rs 1,689.15 recorded on 17 September 2021.

On a year-to-date (YTD) basis, the stock has zoomed 236.32% while the benchmark Sensex has gained 24.67% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 76.393. 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 1704.86, 1384.44 and 1001.89, respectively.

Gujarat Fluorochemicals (GFL) is the flagship company of Inox group. The company has evolved to being largest producer of chloromethanes, refrigerants and Polytetrafluoroethylene in India.

The company's consolidated net profit jumped 115.36% to Rs 151.16 crore on 63.27% rise in revenue from operations to Rs 911.94 crore in Q1 FY22 over Q1 FY21.

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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: Thu, September 30 2021. 12:02 IST