Anupam Rasayan India Corrects Its Sale To Profit

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Anupam Rasayan India fell 3.51% to Rs 1,023.75 following the profit sale after recent big gains.

Stocks of Anupam Rasayan India have climbed 17.13% in the past three sessions. The stock hit a record high of Rs 1,087.95 on January 3, 2022.

The script was listed on March 24, 2021 at Rs 534.70, a discount of 3.66% from its IPO price of Rs 555 per share. Anupam Rasayan’s IPO was subscribed 44.06 times. The issue was opened for auction on March 12, 2021 and closed on March 16, 2021. The price range for the IPO has been set at Rs 553-555 per share.

Technically, the stock’s RSI (Relative Strength Index) came in at 60.29. The RSI fluctuates between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when it is below 30.

The stock was trading above its 50-day and 100-day Simple Moving Average (SMA) placed at 950.30 and 904, respectively.

Anupam Rasayan India is one of the leading companies engaged in Custom Synthesis (CSM) and Specialty Chemicals manufacturing in India.

On a consolidated basis, the company announced a 37.2% increase in net income to Rs 36.05 crore on a 13.3% increase in operating income to Rs 248.92 crore in the second quarter of the fiscal year 22 compared to the second quarter of fiscal year 21.

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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