Tata Chemicals surged 7.9% to Rs 723.70, extending its winning run to sixth consecutive trading session.
Shares of Tata Chemicals have rallied nearly 25% in six trading days from its previous closing low of Rs 579.9 on 17 February 2021. The counter hit a record high of Rs 737.70 in intraday today. The counter has jumped 266% from its 52-week low of Rs 197.40 hit on 23 March 2020.In last one month, the stock has risen 42.6% compared with 9.4% rise in BSE Mid Cap index.
On the technical front, the stock's RSI (relative strength index) stood at 87.111. 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 529.35 and 445.08 respectively. These levels will act as crucial support zones in near term.
Tata Chemicals is a global company with interests in businesses that focus on basic chemistry products and specialty chemistry products.
On a consolidated basis, the chemical maker's net profit rose 0.2% to Rs 200.72 crore on a 0.7% decline in net sales to Rs 2,606.08 crore in Q3 FY21 over Q3 FY20.
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