National Oxygen Falls Sharply After Quick Gains on Q4FY18 Results | CORPORATE ETHOS

National Oxygen Falls Sharply After Quick Gains on Q4FY18 Results

By: | May 28, 2018
National Oxygen Ltd

May 28: National Oxygen Ltd (BSE: 507813) has made quick gains on Monday morning trade rising close to 5% to Rs 30.15 on better Q4FY18 results but fell back to Rs 27.35 in afternoon trade.  The share price had rebounded from a recent low of Rs 28.7.  The company’s operating profit to interest is highest at 1.13 times while net sales was highest at Rs 10.82 cr in Q4.

National Oxygen Ltd is a small cap company established in 1974 and is a leading producer and supplier of industrial gases.  NOL currently has a capacity of 2500 m3 per hour of Oxygen / Nitrogen gases and 2,00,000 m3 per annum capacity of Dissolved Acetylene gas having manufacturing facilities at Pondicherry and Tamilnadu.

In addition to Oxygen, NOL installed an additional facility for compressing waste Nitrogen into commercial grade Nitrogen and over the years upgraded all it’s facilities. NOL can now supply Oxygen and Nitrogen in liquid and gaseous forms to Industries and Hospitals through its own sales network.

On technical charts, RSI of 45.96 is bearish, ADX of 23.73 indicates range bound trade, MACD has witnessed a bearish crossover.