The stock traded in the range of Rs 921.05 and Rs 939.60 so far during the day.

Navin Fluorine International is planning a capital expenditure (capex) program at Dahej (Gujarat) through a wholly-owned subsidiary with an estimated aggregate capital outlay of over Rs 450 crore over the next 3-4 years.

The board of directors has initially approved capital expenditure of approximately Rs 90 crore for site development and related infrastructure on approximately 74 acres of land for greenfield projects at Dahej (Gujarat) through a wholly owned subsidiary, to be incorporated, details of which are annexed.

The said capital expenditure will be funded by the company out of its internal accruals. The development of the infrastructure will enable the company to set up various future greenfield projects in fluorochemicals.

Each of these projects will be separately approved by the board over a period of time and we shall update all in the due course. The company currently has manufacturing units at Surat (Gujarat) and Dewas (Madhya Pradesh). The announcement was made post trading hours yesterday, 12 December 2019.

On a consolidated basis, the company's net profit rose 27.1% to Rs 47.34 crore on a 7.7% increase in net sales to Rs 272.94 crore in Q2 September 2019 over Q2 September 2018.

Navin Fluorine International (NFIL) is one of the manufacturers of speciality fluorochemicals.

On the technical front, the stock's RSI (relative strength index) stood at 64.61. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock was currently trading above its 50-day moving average (DMA) placed at Rs 840.52 and its 200 DMA placed at Rs 725.38.

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Navin Fluorine International has allotted 7,475 equity shares of the face value of Rs. 2/- each to the eligible employees of theCompany upon exercising Stock Options by them under the prevailing Employee Stock Option Scheme2007 (ESOS2007) of the Company.

With this allotment, the paid-up capital of the Company has increased to Rs. 9,89,28,475/-(4,94,56,960 equity shares of face value Rs. 2/- each fully paid-up and 14,555 partly paid equity sharesof Rs. 2/- each, on which Re.1/- per share paid-up).

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Navin Fluorine International announced that the Board of Directors of the Company at its meeting held on 23 October 2019, inter alia, have recommended the interim dividend of Rs 4 per equity Share (i.e. 200%) , subject to the approval of the shareholders.

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Net profit of Navin Fluorine International rose 35.60% to Rs 46.39 crore in the quarter ended September 2019 as against Rs 34.21 crore during the previous quarter ended September 2018. Sales rose 9.15% to Rs 263.85 crore in the quarter ended September 2019 as against Rs 241.74 crore during the previous quarter ended September 2018.

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