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Shares of Alkyl Amines have jumped 35.65% in four trading days from its previous closing low of Rs 3827.40 on 31 December 2020. The counter hit a record high of Rs 5,603.20 in intraday today. From its 52-week low of Rs 1030 hit on 13 March 2020, the stock has soared 404%.
In last one month the stock has risen 31%, outperforming the S&P BSE SmallCap index which gained 8.29% in the same period.
The specialty chemical manufacturer's board will consider a stock split on 2 February 2021. On the same day, it will also consider the proposal for setting up of new project including Amines. The board will also announce Q3 December 2020 results on the same day.
On the technical front, the stock's RSI (relative strength index) stood at 85.59. 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 moving average (DMA) placed at 3666.61 and its 100-day moving average (DMA) placed at 3421.05.
Alkyl Amines Chemicals is a global supplier of amines and amine-based chemicals to the pharmaceutical, agrochemical, rubber chemical & water treatment industries, among others.
Net profit of Alkyl Amines Chemicals rose 21.49% to Rs 65.47 crore on 23.96% rise in net sales to Rs 291.27 crore in Q2 September 2020 over Q2 September 2019.
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