Turning Bullish: Maharashtra Seamless Ltd
Intro: Maharashtra Seamless Ltd manufactures seamless pipes & tubes, ERW pipes. It is also in the business of renewable power generation and rig operations.
Fundamental Analysis:
Market Cap: ₹ 10,301 Cr.
High / Low: ₹ 1,099 / 563
Stock P/E: 12.2 (Ind. P/E:30.3)
ROCE: 22.9 %
ROE: 18.1 %
Sales Growth (3 years): 33%; Profit Growth (3 years): 69%
Stock Analysis:
Maharstra Seamless has been consolidating in a tight range between 569 and 701 for 3 months.
In the last couple of sessions, it has given a strong breakout with good volume.
Resistance levels: 782, 827, 927, 997, 1033
20 EMA has just crossed 50 EMA confirming the bullish trend.
However, volume has to support for further quick upside momentum.
Fundamental Analysis:
Market Cap: ₹ 10,301 Cr.
High / Low: ₹ 1,099 / 563
Stock P/E: 12.2 (Ind. P/E:30.3)
ROCE: 22.9 %
ROE: 18.1 %
Sales Growth (3 years): 33%; Profit Growth (3 years): 69%
Stock Analysis:
Maharstra Seamless has been consolidating in a tight range between 569 and 701 for 3 months.
In the last couple of sessions, it has given a strong breakout with good volume.
Resistance levels: 782, 827, 927, 997, 1033
20 EMA has just crossed 50 EMA confirming the bullish trend.
However, volume has to support for further quick upside momentum.
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