Symphony Share Price Update: What’s Behind the Current ₹1,514.95 Valuation and What to Expect Nex
As of September 1, 2024, Symphony Limited’s share price is making headlines in the stock market. Today, the stock is trading at ₹1,514.95, down by 3.51% from the previous close. This article will provide a comprehensive analysis of Symphony’s share price, including its technical and fundamental aspects, as well as future predictions.
Main Points
- 1 Live Today: Symphony Share Price
- 2 Next Day Price Forecast
- 3 Technical Analysis of Symphony Share Price
- 4 Fundamental Analysis of Symphony Share Price
- 5 Today’s Target Prediction for Symphony Share Price
- 6 Number of Key Factors Influencing Symphony Share Price
- 7 Bullish or Bearish Reasons for Symphony Share Price
- 8 Buyback News
- 9 Important Levels for Symphony Share Price
- 10 Movement Causes of Symphony Share Price
- 11 52 Week High Low for Symphony Share Price
Currently, Symphony’s share price is ₹1,514.95. The stock has experienced a day range between ₹1,621 and ₹1,664. The trading volume today has reached approximately 38,506 shares.
Next Day Price Forecast
Looking ahead, analysts predict that Symphony’s share price may fluctuate between ₹1,500 and ₹1,550 in the next trading session. This forecast is based on current market trends and investor sentiment.
A closer look at the technical indicators reveals that Symphony’s stock is trading below its 50-day and 200-day moving averages. The recent decline suggests a bearish trend. The Relative Strength Index (RSI) is currently at 35, indicating that the stock may be oversold.Support and Resistance Levels:
- Support Levels: ₹1,500, ₹1,450
- Resistance Levels: ₹1,600, ₹1,650
These levels are crucial for traders looking to make informed decisions.
From a fundamental perspective, Symphony has shown a revenue contraction of 3% over the last year, which is concerning. The company’s operating revenue stands at ₹1,385 crore, with a pre-tax margin of 16%. The return on equity (ROE) is a healthy 19%, indicating effective management of shareholder funds.Key Financial Metrics:
- Market Capitalization: ₹11,287.9 crore
- P/E Ratio: 52.14
- Dividend Yield: 0.81%
These metrics suggest that while the stock is relatively expensive, it has strong fundamentals that could support future growth.
For today, analysts predict that Symphony’s share price could target ₹1,550. This prediction is based on the current market conditions and technical analysis.
Several factors are influencing Symphony’s share price:
- Market Sentiment: Investor sentiment has turned bearish due to recent revenue declines.
- Economic Conditions: The overall economic environment impacts consumer spending on durable goods like air coolers.
- Competition: Increased competition in the air cooler market may affect Symphony’s market share.
- Buyback News: Symphony’s recent announcement of a share buyback program could support the stock price.
Bullish Reasons:
- Strong Brand Recognition: Symphony is a well-known brand in the consumer durables market.
- Buyback Program: The buyback can create demand for the stock, potentially increasing its price.
Bearish Reasons:
- Revenue Decline: The recent contraction in revenue raises concerns about future growth.
- Market Competition: Intense competition may pressure margins and market share.
Buyback News
Symphony has recently announced a buyback of shares, which is set to enhance shareholder value. This buyback program is expected to provide a boost to the stock price as it reduces the number of shares in circulation.
Understanding the important levels can help investors make better decisions:
- Key Support Levels: ₹1,500, ₹1,450
- Key Resistance Levels: ₹1,600, ₹1,650
These levels are critical for traders looking to enter or exit positions.
The movement in Symphony’s share price is primarily driven by:
- Market Trends: Overall market conditions and trends significantly impact stock prices.
- Company Performance: Financial results and operational performance directly influence investor sentiment.
- Economic Indicators: Changes in economic indicators such as inflation and consumer spending can affect stock prices.
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Symphony’s share price has experienced significant volatility over the past year. The 52-week high is ₹1,749, while the low is ₹820. This wide range indicates the stock’s potential for both growth and risk.
