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NCL Inds hits 52-week high; rises 15% in four days

Capital Market 

NCL Industries jumped 6.16% to Rs 193, extending its winning run to fourth consecutive trading session.

Shares of NCL Industries have rallied nearly 15% in four trading sessions from its previous closing low of Rs 168.05 posted on 5 April 2021. The counter hit a 52-week high of Rs 195.85 in intraday today. It is up nearly 241% from its 52-week low of Rs 56.6 posted on 13 April 2020.

The counter disclosed production and offtake figures for the quarter ended 31 March 2021 on Thursday. The company's cement production increased 33% year on year to 691,136 metric tonnes (MT) in Q4 March 2021. Cement dispatches were up 38% year on year to 701,949 MT in Q4 March 2021.

On the technical front, the stock's RSI (relative strength index) stood at 70.849. 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 166.99 and 156.49 respectively. These levels will act as crucial support zones in near term.

NCL Industries is engaged in the manufacture of cement and ceramics. On a consolidated basis, the company posted a net profit of Rs 41.59 crore in Q3 FY21 from Rs 5.43 crore posted in Q3 FY20. Net sales jumped 75.4% to Rs 369.49 crore in Q3 FY21 over Q3 FY20.

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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: Fri, April 09 2021. 11:11 IST