InvestorQ : What explains such a sharp rally in the shares of Navin Fluorine in the last few weeks since March 2020?
Arti Chavan made post

What explains such a sharp rally in the shares of Navin Fluorine in the last few weeks since March 2020?

Answer
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5 months ago


In fact the shares of Navin Fluorine have scaled an all-time high of Rs.1683 in the midst of this COVID-19 scare. Navin is actually up by 71% from its low of Rs.980 touched on March 23 and this 71% rally has happened in just a little over a month. The big positive for the stock was that the company had again commenced manufacturing operations at its facilities at Bhestan, Gujarat and Dewas, Madhya Pradesh from April 14, obtaining permissions from concerned Government authorities. The company has been seeing positive trend after it entered into a $410 million multi-year contract with a global company for manufacture and supply of a high performance product (HPP) in the fluorochemicals space. The contract is for a period of 7 years. With China going slow in specialty chemicals manufacturing, Navin is likely to make the best of the growth momentum.