Ceigall India Share Price Surges 7% After Q1 Profit Jumps 76.5%: Key Factors to Watch
Sunday, September 01, 2024 – Ceigall India’s share price jumped as much as 7% today after the company reported a 76.5% increase in its Q1 FY25 net profit. The stock closed at ₹405.8, up 3% from the previous day’s close.
Meta Description: Ceigall India’s share price surges 7% after Q1 profit jumps 76.5%. Key factors to watch include technical analysis, fundamental analysis, important levels, and 52-week high/low.Meta Keywords: Ceigall India, share price, Q1 profit, technical analysis, fundamental analysis, important levels, 52-week high, 52-week lowMeta Long Tail Keywords: Ceigall India share price, Ceigall India Q1 profit, Ceigall India technical analysis, Ceigall India fundamental analysis, Ceigall India important levels, Ceigall India 52-week high, Ceigall India 52-week low
Main Points
Live Today’s Price and Next Day Forecast
Ceigall India’s share price closed at ₹405.8 on Sunday, September 01, 2024, up 3% from the previous day’s close of ₹393.70. The stock hit an intraday high of ₹421.5, surging as much as 7%. For the next trading day, analysts expect Ceigall India’s share price to continue its upward momentum, with a target price of ₹410-415. However, the stock may face resistance at the ₹420-425 level, which is its 52-week high.
Technical Analysis and Fundamental Analysis
Ceigall India’s share price has been trading in a range of ₹368-425 over the past 52 weeks. The stock has support at the ₹380-385 level and resistance at the ₹420-425 level. Fundamentally, Ceigall India reported a 76.5% increase in its Q1 FY25 net profit to ₹77.85 crore, compared to ₹44.10 crore in the corresponding period last year. Revenue from operations jumped 26.4% to ₹822.3 crore. The company’s order book stands at ₹12,000 crore, providing good revenue visibility for the next few quarters.
- Strong Q1 FY25 results: Ceigall India’s impressive Q1 FY25 results, with a 76.5% jump in net profit and 26.4% increase in revenue, have boosted investor sentiment.
- Robust order book: The company’s strong order book of ₹12,000 crore provides good revenue visibility and growth prospects.
- Buyback news: Ceigall India’s board is expected to consider a buyback proposal in its upcoming meeting, which could provide further support to the share price.
- Favorable market conditions: The overall market sentiment is positive, with the Nifty and Sensex trading near their all-time highs. This could attract more investors to Ceigall India’s stock.
Today’s Target Prediction and Important Levels
Based on the technical and fundamental factors, Ceigall India’s share price is expected to trade in the range of ₹400-420 today. The stock has support at the ₹380-385 level and resistance at the ₹420-425 level. A breakout above ₹425 could lead to further upside, with the next target at ₹440-450.
Will GSPL Share Price Reach 500 Soon? Expert Predictions and Market Analysis for September 2024
Mazagon Dock Share Price Outlook: Will It Break Through the ₹4,300 Resistance?
Bullish or Bearish Reasons
The bullish factors for Ceigall India include:
- Strong Q1 FY25 results
- Robust order book
- Buyback news
- Favorable market conditions
The bearish factors include:
- Resistance at the 52-week high of ₹425
- Concerns over rising input costs and interest rates
52-Week High/Low and Movement Causes
Ceigall India’s 52-week high is ₹425, which it reached on August 08, 2024. The 52-week low is ₹368.30, recorded on August 14, 2024. The stock has gained over 10% since its listing in August 2024. The recent upward movement in Ceigall India’s share price is primarily due to the strong Q1 FY25 results and the overall positive market sentiment. The company’s robust order book and the potential buyback proposal have also contributed to the stock’s rally.
