Fertilizer company Rashtriya Chemicals and Fertilizers has been under the radar for investors these past month, but has recently seen a jump in share price on high volumes. The company (which is in16 stock screenersincluding stocks with rising FII holding) had delivered a good result performance in the March quarter, with revenue up by over 15% YoY and net profits rising 63%.
The company has seen growing interest from FIIs/FPIs which have upped their holdings in this stock, and the company's technicals saw share price crossing above all SMAs today. One caution to note is that the company is currently in overbought territory as per its MFI.
RCF's performance for the full year was respectable - the company's net profit rose 76.6% to Rs 139.2 crore in the year ended March 2019 compared to Rs 78.80 crore for the previous year. Revenues are up 22.% to Rs 8885.5 crore for the year, compared to Rs. 7282 crore in the previous financial year.