Acrysil spurts 18% in three sessions

Acrysil surged 10.75% to Rs 733.55, extending gains for the third trading session.

Shares of Acrysil have surged 18.5% in three trading sessions from its recent closing low of Rs 619.05 on 12 August 2022.

In the past one year, the stock has rallied 18.30% while the benchmark Sensex climbed 7.57% and the Nifty50 index rose 7.64% during the same period.

On the technical front, the stock's daily RSI (relative strength index) stood at 71.447. 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 above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 601.27, 661.12 and 724.38 respectively. These levels will act as crucial support zones in near term.

Acrysil is one the leading manufacturer and exporter of composite quartz granite kitchen sinks in India. Quartz, the hardest constituent of granite, constitutes around 80% of the raw material used in these sinks. The company also makes stainless steel kitchen sinks. The sinks are sold under the brand name 'Carysil'.

The company's consolidated net profit rose 38.96% to Rs 18.69 crore on 75.61% increase in net sales to Rs 171.31 crore in Q1 FY23 over Q1 FY22.

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