The funds would be raised by way of issuance of equity shares or any other instruments or securities through qualified institutional placement/private placement/public issue/preferential issue or through any other permissible mode or combination thereof, as may be considered appropriate.

Navin Fluorine International (NFIL) is a part of Padmanabh Mafatlal Group and is engaged in the manufacturing of fluorinated specialty chemicals. NFIL operates in four major business segments, viz. refrigerant gases, inorganic fluorides, specialty chemicals and RAMS.

The company had reported 81% jump in consolidated net profit to Rs 136.4 crore in Q4 FY23 from Rs 75.2 crore in Q4 FY22. Net revenue from operations during the quarter increased by 70% YoY to Rs 697.1 crore.

The scrip was currently trading at Rs 4475.95 on the BSE, higher by 0.43% as compared with its previous close.

In the past one month, the stock has fallen by 2.73% while the benchmark Sensex has added 1.40% during the same period. The scrip had hit its monthly low at 4,365.65 on 12 June 2023

On a year-to-date (YTD) basis, however, the stock has added 8.94% while the Sensex rose by 3.29% during the same time frame.

On the technical front, the stock's daily RSI (relative strength index) stood at 41.612. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On daily chart, the stock is trading above its 100-day and 200-day simple moving average (SMA) placed at 4,424.85 and 4,382.44, respectively. It is, however, trading below its 50-day SMA positioned at 4,652.15.