Latest news with #RamkrishnaForgingsLtd
Mint
20-06-2025
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 20 June
On Thursday, the Nifty 50 declined marginally by 0.08% and closed at 24,793 amid a volatile trading session. The market remained under pressure due to hawkish commentary from the US Federal Reserve, which dampened global sentiment by projecting only two rate cuts for 2025. Geopolitical tensions in the Middle East further weighed on risk appetite. The selling pressure was evident in the market across sectors. Two stock recommendations by MarketSmith India: Ramkrishna Forgings Ltd (current price: ₹638.50) Why it's recommended: Capital infusion by promoters, seasonal positive tailwind, EPS growth. Key metrics: P/E: 34.54 | 52-week high: ₹1,064 | Volume: ₹354.22 crore Technical analysis: 50-DMA retake, positive institutional holding Risk factors: Increased raw-material cost and margin pressure, high operational leverage, competitive and regulatory risk. Buy at: ₹638.50 Target price: ₹740 in two to three months Stop loss: ₹687 Also Read: Is the Israel-Iran war a billion-dollar threat to Adani Ports & SEZ? BOSCH Ltd (current price: ₹32,375) Why it's recommended: Strong Q4 performance, expansion in mobility business, growth in consumer business. Key metrics: P/E: 47.42 | 52-week high: ₹39,088 | Volume: ₹68.04 crore Technical analysis: Trending above all key moving averages, bullish continuation pattern. Risk factors: Supply chain, currency risk, competition and regulatory pressure. Buy at: ₹32,375 Target price: ₹36,200 in two to three months Stop loss: ₹30,300 How Nifty 50 performed on 19 June On Thursday, the Nifty 50 opened on a flat note. The index traded in a volatile range throughout the session and closed on a flat to negative note. The intraday price action led to the formation of a narrow-range bearish candle on the daily chart, characterized by a lower-high and lower-low structure, indicating continued weakness in momentum. Except Auto index, all major sectoral and broader market indices ended in the red. Consequently, market breadth deteriorated significantly, with the advance-decline ratio skewed sharply toward decliners at 1:5. Also Read: Is India's premium at risk? As Israel-Iran conflict sparks FPI outflows, valuation debate rages From a technical standpoint, the Nifty 50 continues to be volatile and has closed below its 21-day moving average, signalling short-term weakness. The index remains confined within a consolidation range over the past five weeks, underscoring the prevailing lack of directional conviction. As of Thursday, the daily Relative Strength Index (RSI) is flat around the 50–51 mark, while the MACD continues to trend in a negative crossover. This overall setup indicates waning momentum and suggests that a cautious, range-bound outlook may persist in the near term. According to O'Neil's market direction methodology, the market status was upgraded to a Confirmed Uptrend on 11 June as the Nifty reclaimed its recent high of 25,116. The index continued to trade within a defined sideways range of 24,500–25,200, maintaining a negative bias for the seventh consecutive session. The index has repeatedly failed to sustain above the psychological 25,000 level, highlighting the absence of strong bullish momentum. A decisive breakout above the resistance zone of 25,000-25,200 remains essential to confirm a reversal in trend. Until then, the index is likely to remain in a consolidation. Strong support is in the 24,400-24,500 range. How Nifty Bank performed yesterday On Thursday, the Nifty Bank opened on a flat note but traded with a negative bias throughout the session, eventually closing with a loss of 0.45%. The intraday movement led to the formation of a bearish candle on the daily chart, reflecting persistent selling pressure. Notably, the index underperformed the broader benchmark, highlighting ongoing volatility and investor caution within the banking space. Similarly, the broader financial segment remained weak, with the FINNIFTY index declining 0.38% and forming a bearish candle, reinforcing the prevailing sectoral weakness. Also Read: Dull summer casts a cloud on Voltas's air conditioner volumes in Q1 From a technical perspective, the BankNifty index failed to reclaim and sustain above its 21-day moving average, closing below it with a negative bias. The RSI has turned downward and slipped below the 50 mark, reflecting weakening momentum and a lack of buying strength. Additionally, the MACD continues to exhibit a negative crossover on the daily chart, reinforcing the prevailing bearish sentiment and indicating the potential for further downside in the sessions ahead. According to O'Neil's market direction model, Bank Nifty has recently been shifted from an 'Uptrend Under Pressure" to a bullish phase of a 'Confirmed Uptrend". The index closed below its 21-day moving average, signalling continued weakness in the short- to medium-term outlook. Immediate support is near 55,000. Resistance is at 56,000, followed by 57,000. The recent price action indicates the likelihood of sustained range-bound trading within the 55,000–57,000 zone in the near term. A decisive breakout beyond this range will be critical in determining the next directional trend for the index. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543) Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
15-05-2025
- Business
- Business Standard
Volumes soar at eClerx Services Ltd counter
eClerx Services Ltd clocked volume of 18590 shares by 10:47 IST on BSE, a 13.18 times surge over two-week average daily volume of 1410 shares Ramkrishna Forgings Ltd, Linde India Ltd, Shree Cement Ltd, Jubilant Foodworks Ltd are among the other stocks to see a surge in volumes on BSE today, 15 May 2025. eClerx Services Ltd clocked volume of 18590 shares by 10:47 IST on BSE, a 13.18 times surge over two-week average daily volume of 1410 shares. The stock gained 9.18% to Rs.3,000.00. Volumes stood at 1658 shares in the last session. Ramkrishna Forgings Ltd saw volume of 4.03 lakh shares by 10:47 IST on BSE, a 9.02 fold spurt over two-week average daily volume of 44655 shares. The stock increased 7.19% to Rs.625.45. Volumes stood at 48686 shares in the last session. Linde India Ltd witnessed volume of 9726 shares by 10:47 IST on BSE, a 6.36 times surge over two-week average daily volume of 1529 shares. The stock increased 4.41% to Rs.7,158.25. Volumes stood at 4495 shares in the last session. Shree Cement Ltd recorded volume of 2626 shares by 10:47 IST on BSE, a 6.35 times surge over two-week average daily volume of 413 shares. The stock gained 3.17% to Rs.31,603.10. Volumes stood at 1860 shares in the last session. Jubilant Foodworks Ltd witnessed volume of 1.41 lakh shares by 10:47 IST on BSE, a 5.06 times surge over two-week average daily volume of 27925 shares. The stock dropped 1.82% to Rs.680.90. Volumes stood at 54095 shares in the last session.
Economic Times
12-05-2025
- Business
- Economic Times
How ‘net worth' has become the new gift wrap for bad news
In a development that has raised eyebrows on Dalal Street, Kolkata-based Ramkrishna Forgings Ltd (RKFL) recently announced discrepancies in its inventory — not in absolute numbers, but in terms of net worth. This unconventional mode of disclosure has drawn criticism from analysts and accounting professionals for its potential to obscure the true financial impact on the company. In an exchange announcement last month, RKFL stated that during an
Time of India
29-04-2025
- Business
- Time of India
Ramkrishna Forgings shares fall on disclosure of inventory discrepancies
Mumbai: Ramkrishna Forgings Ltd's shares fell nearly 4.8% on Monday, after the supplier of forged parts for automotive, defence, railways and mining sectors disclosed over the weekend that inventory discrepancies could knock 4-5% off its net worth. The company's promoters on Monday pledged to step in and fund any shortfall, helping cushion the blow. 'Our priority at this moment is to ensure correct assessment of the discrepancies and to take appropriate remedial measures,' managing director Naresh Jalan said on an investor call. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Manila: Surplus Container Homes Available at Unbelievable Prices (See the Deals) LocalPlan Learn More Undo It discovered the discrepancies during the annual fiscal 2025 stock taking, Ramkrishna Forgings said in a filing with stock exchanges on Saturday. The company has engaged independent external agencies for a forensic audit after its audit committee approved a fact-finding exercise. Analysts estimate its net worth at around Rs3,000 crore. This would mean a notional impact of around Rs150 crore. Analysts said it could go up further. Calling this the first such incident in its history, Ramkrishna Forgings said it would account for any financial hit on a one-time basis once the external audit concludes. Live Events The company's shares fell to Rs625.05 on the BSE Monday, when the benchmark Sensex ended about 1.3% higher. Jalan said he 'takes moral responsibility' for what has happened and will ensure the promoters live up to the expectations of the investor community and best corporate governance practice. 'We are fully cognisant of any actions and recommendations by the reputed agencies and, as approved by the board, may have implications on the net worth of the company,' he told investors. In response to a question on the need for a fund infusion by the promoters, Jalan said it is being done with a 'single-minded focus of enhancing the financial position of the company. This infusion will also provide additional liquidity to the company and strengthen its leverage position,' he said. The company runs 18 manufacturing plants in India with a total capacity of 3,06,000 metric tonnes. Tata Motors is its largest customer, with medium and heavy commercial vehicles contributing the bulk of revenues. In FY2024, Ramkrishna Forgings made a spate of acquisitions to diversify into new segments like passenger vehicles, tractors, and light commercial vehicles. As the cause of the error, its magnitude and impact on profit and loss is not known yet, there is uncertainty on the overall impact on financials, DAM Capital analyst Mitul Shah wrote in a research note. 'The details from an independent auditor are most critical in this scenario. Therefore, we would await the outcome of the independent auditor's report and auditors' remark for better clarity, before taking any concrete view,' Shah wrote, placing his rating of the stock 'under review'.
