Usha Martin Ltd. has shown significant movement in its share price as of October 11, 2024. The stock price increased by 7.03%, closing at ₹367.15 from the previous day’s close of ₹345.55. This surge indicates a positive trend in the market, reflecting investor confidence in the company.
Main Points
- 1 Current Usha Martin Share Price Market Overview:
- 2 Usha Martin Share Price Fundamental Analysis
- 3 Key Financial Ratios
- 4 Factors Influencing Usha Martin Share Price
- 5 Predicted Price Action for Tomorrow
- 6 Usha Martin Share Price Analysts’ Opinions
- 7 Important Levels to Watch
- 8 Usha Martin Share Price Movement Causes
- Market Capitalization: Approximately ₹10,816.82 Crores.
- 52-Week Range: The stock has fluctuated between a high of ₹427.80 and a low of ₹252.80 over the past year.
- PE Ratio: Currently stands at 25.31, suggesting that the stock may be overvalued compared to its earnings.
- EPS (Earnings Per Share): The latest EPS is reported at ₹14.02, indicating profitability per share.
Technical Analysis:
Recent technical indicators show a bullish trend for Usha Martin:
- A 50-day moving average crossover was noted on September 27, 2024, which historically has led to an average price gain of 9.56% within the following month.
- The stock also recently exhibited a 20-day EMA crossover, signaling potential further gains.
Usha Martin’s fundamentals reveal mixed results:
- The company experienced a slight revenue contraction of 0.92%, marking the first decline in three years.
- Despite this, it has maintained a healthy operating expense structure, with less than 1% of revenues going towards interest expenses and about 13.26% towards employee costs.
Key Financial Ratios
| Ratio | Value |
|---|---|
| PE Ratio | 25.31 |
| EPS | ₹14.02 |
| Market Cap | ₹10,816.82 Cr |
| PB Ratio | 4.50 |
| Dividend Yield | 0.77% |
| ROE | 17.82% |
Several factors are currently influencing Usha Martin’s share price:
- Market Sentiment: Positive investor sentiment following recent performance improvements.
- Technical Signals: Recent bullish technical indicators have attracted traders.
- Sector Performance: As part of the steel and iron products sector, broader market trends in commodities can impact pricing.
Predicted Price Action for Tomorrow
Analysts are optimistic about Usha Martin’s performance in the near term, with predictions suggesting continued upward momentum based on current technical indicators and market sentiment.
Market analysts are generally bullish on Usha Martin:
- Many believe that despite recent revenue challenges, the company’s long-term growth prospects remain strong due to its solid operational efficiencies and market positioning.
- Analysts expect that if the stock maintains its current trajectory, it could test resistance levels around ₹370 – ₹375 in the coming days.
Important Levels to Watch
Investors should keep an eye on these key levels:
- Support Level: ₹351
- Resistance Level: ₹370
The recent price movement can be attributed to several factors:
- Increased buying activity following positive technical signals.
- Broader market trends favoring steel and iron sectors.
- Company announcements or news that may have positively influenced investor sentiment.
