Shares of Valiant Organics have surged 20.84% in three consecutive sessions. The stock outperformed the market over the past one month, surging 9.94% compared with 2.46% fall in the Sensex.
The scrip underperformed the market in past one quarter, falling 21.08% compared with 2.85% decline in the Sensex.
The scrip underperformed the market in past one year, sliding 55.51% compared with 0.79% increase in the Sensex.
On the technical front, the stock's daily RSI (relative strength index) stood at 60.26. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading below its 100-day and 200-day simple moving average (SMA) placed at 542.36 and 594.42, respectively. These levels will act as crucial resistance zones in near term. The stock was, however, trading above its 50-day SMA placed at 448.54.
Valiant Organics is focused on the manufacturing and marketing of specialty chemicals which find usage in a variety of industries, including agrochemicals, pharmaceuticals, dyes, pigments, and veterinary medications.
On a consolidated basis, net profit of Valiant Organics declined 26.62% to Rs 21.97 crore on 13.19% decline in net sales to Rs 250.37 crore in Q3 December 2022 over Q3 December 2021.
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