The company was last observed trading above the 5-day, 20-day, 50-day, and 100-day moving averages but below the 200-day moving averages, according to the technical setup for Meghmani Finechem. The relative strength index (RSI) for the market over the past 14 days was 72.45. When the number is below 30, it is said to be oversold, and when it is above 70, it is said to be overvalued. The stock of the company has a price-to-earnings ratio (P/E) of 11.95. The price-to-book (P/B) ratio for this item is 3.95.
Meghmani Finechem Ltd. shares went up sharply on Friday, ending a two-day drop. The stock rose 14.95% from its previous close of Rs 1,016.40 to reach a day high of Rs 1,168.30. At its current high, the stock has lost 32.73% of its value from its 52-week high of Rs 1,736.60, reached on September 20 of last year. Still, it is up 44.13 percent from its lowest point in the past year, which was Rs 810.60 on March 29, 2023.
About 65,000 shares changed hands on BSE today, which was more than four times higher than the average of 14,000 shares over the past two weeks. The counter’s sales were worth Rs 7.33 crore, and its market capitalization (m-cap) was worth Rs 4,745.44 crore.
The company that makes chemicals has set June 20, 2023, as the date for the last bonus payment to be made. For the last fiscal year, the company gave a final dividend of Rs 2.50 per share.
On a fundamental level, the stock was last seen trading higher than the 5-day, 20-day, 50-day, and 100-day moving averages, but lower than the 200-day moving averages. The relative strength index (RSI) for the market over the past 14 days was 72.45. When the number is below 30, it is said to be oversold, and when it is above 70, it is said to be overvalued. The stock of the company has a price-to-earnings ratio (P/E) of 11.95. The price-to-book (P/B) ratio for this item is 3.95.
The stock’s one-year beta is 0.76, which means it is not very volatile.
In the March 2023 quarter (Q4 FY23), the company’s net profit fell by 22.57 percent, to Rs 76.73 crore, from Rs 99.09 crore in the same quarter of the previous fiscal year. In Q4 FY23, sales were Rs 562.18 crore, up 12.73 percent from Rs 498.80 crore in the March 2022 quarter. Operating profit for the quarter that ended in March 2023 was Rs 154.67 crore, which was 11.67% less than the same quarter last year, when it was Rs 175.11 crore.
For the fiscal year that finished in March 2023, the net profit jumped by 39.76%, from Rs 252.79 crore to Rs 353.29 crore. In March 2023, revenue was Rs 2,188.40 crore, up 41.10% from Rs 1,550.94 crore in March 2022. For the fiscal year that finished in March 2023, operating profit went up by 35.2%, from Rs 509.49 crore to Rs 688.94 crore.
Meghmani Finechem makes chemicals that are very important. The company makes and sells Chlor-Alkali and other products made from it. It also sells goods that are used in agriculture. The company makes caustic soda, caustic potash, chlorine, hydrogen, chloromethanes, and hydrogen peroxide, among other things.
In the meantime, Indian stock market benchmarks went up in the afternoon trades today, following the lead of markets around the world. Today, banks, financials, metals, pharma, and consumer stocks led the rise in local benchmarks.