Profit before tax (PBT) dropped 23.50% to Rs 95.08 crore in Q1 June 2020 as against Rs 124.30 crore in Q1 June 2019. Income tax expense for the quarter skid 47.51% at Rs 21.68 crore as against Rs 41.31 crore paid in Q1 June 2019. The Q1 result was announced on Saturday, 1 August 2020.
Due to lockdown in April 2020, financial numbers during the first quarter ended 30 June 2020 has been impacted.
On the technical front, the stock's RSI (relative strength index) stood at 47.20 as on Friday, 31 July 2020. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On Friday, the stock was trading below its 50-day moving average (DMA) placed at 995.22 and its 200-day moving average (DMA) placed at 979.27.
Vinati Organics is engaged in the manufacture of organic and inorganic chemical compounds nitrogenous energetic compounds (NEC).
The stock rose 1.13% to end at Rs 977.85 on BSE on Friday. The scrip hovered in the range of Rs 946.80 to Rs 985 on that day.
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