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India.com
2 days ago
- Business
- India.com
Shares of this BSE-listed company hits fresh 52-week high today
शेयर बाजार में हाहाकार, अरबों डॉलर हुए स्वाहा Shares of BSE-listed Elitecon International surged 5 percent in Wednesday's trading session to hit an upper circuit of Rs 518.05. The upper circuit is a regulatory mechanism that restricts the upward movement of a stock's price, preventing it from being traded at a price higher than the circuit limit. The counter opened gap up at Rs 516.85 with a gain of 4.75 percent from the previous close of Rs 493.40. The momentum continued amid buying, and the stock hit an upper circuit of Rs 518.05 – also the fresh 52-week high. The 52-week low of the stock is Rs 11.02. The market cap of the company is Rs 8,281.03 crore. The scrip is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages The stock has been gaining for the last seven days, indicating a strong bullish trend in the market. It has surged 42.48 per cent in this period, which is a significant increase in a short span of time. Q4 Results Elitecon International's stock has been on a positive trajectory ever since the company announced its robust Q4 results. This strong performance may reassure investors about the company's financial health and future prospects. The company reported a 94 per cent YoY increase in net profit to Rs 12.21 crore. The net profit of the company in the same quarter a year ago was Rs 6.30 crore. Share Price History According to BSE Analytics, the scrip has given a solid return of 627 per cent in six months and nearly 400 per cent on a YTD (year-to-date) basis. The company's sales saw a remarkable growth of 170 per cent, reaching Rs 120.41 crore in the quarter under review. This significant increase, compared to Rs 44.49 crore in the March 2024 quarter, may inspire optimism about the company's future performance. Stock Market Today Meanwhile, benchmark stock indices rebounded in early trade after three days of decline tracking a rally in global markets. The 30-share BSE Sensex climbed 230.17 points to 80,967.68 in early trade. The NSE Nifty went up by 70. 25 points to 24,612.75. From the Sensex firms, Bharti Airtel, Eternal, IndusInd Bank, Maruti, Tata Motors and Bajaj Finance were the major gainers. However, Tata Consultancy Services, UltraTech Cement, Titan and ICICI Bank were among the laggards. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading significantly higher. With PTI inputs
India.com
23-04-2025
- Business
- India.com
FMCG stock GRM Overseas gains after update on credit rating
Shares of FMCG company GRM Overseas are in focus as the company has shared an update related to the credit rating on its bank facilities. The counter started today's session in the green at Rs 323.90 on the BSE. The scrip had closed at Rs 323.20 in the previous session. The counter touched the intraday high of Rs 325.80. Before that, it hit a low of Rs 313.85. Last seen, the counter was trading at Rs 325. According to BSE Analytics, the shares of GRM Overseas has given a multibagger return of over 122 per cent in one year and 88 per cent in two years. While it has corrected 40 per cent in three years, the stock has made investors richer by 3,021 per cent in 5 years. GRM Overseas, which is listed on both National Stock Exchange and BSE, has informed exchanges that Acuite Ratings & Research Limited has reaffirmed the long-term rating of 'Acuite A-' (Acuite A minus) and short-term rating of 'Acuite A2+' (Acuite A two plus) on its Rs 312 crore bank facilities and said that the outlook is 'stable'. Stating the rationale of rating reaffirmation, Acuité Ratings & Research Limited said that it takes into account 'the healthy financial risk profile of the group, its strong liquidity position and improvement in revenues in 9MFY2025 post recording a decline in FY2024 as compared to FY2023, albeit moderation in profitability margins. Further, the rating continues to draw comfort from the extensive experience of the management and established brand presence in the agri-food industry.' It also said that rating remains constrained on account of working capital-intensive nature of operations, exposure to agro-climatic conditions, inventory risks, economic conditions in export markets, foreign exchange fluctuations and government regulations. 'The group's ability to sustain growth in revenue and improve its profitability margins while maintaining its capital structure and healthy debt coverage indicators will remain a key rating monitorable,' the filing said.
