Espresso Shot of the Day - Rhi Magnesita India Ltd up by 13.07 percent

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Espresso Shot of the Day - Rhi Magnesita India Ltd up by 13.07 percent

November 23, 2022
Espresso Shot of the Day - Rhi Magnesita India Ltd up by 13.07 percent

RHI MAGNESITA INDIA LTD 796.10 (+13.07%) BSE –INE743M01012 | 23rd November 2022

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RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world with around 12,000 employees in 28 main production sites and more than 70 sales offices. RHI Magnesita intends to leverage its leadership in terms of revenue, scale, product portfolio and diversified geographic presence to target strategically those countries and regions benefitting from more dynamic economic growth prospects. The Group maintains a premium listing on the Official list of the London Stock Exchange and is a constituent of the FTSE 250 index, with a secondary listing on the Vienna Stock Exchange.


Recent Drivers

  • On November 21, 2022, Vienna-based RHI Magnesita bought Dalmia Bharat Refractories' (DBRL) refractory business for Rs.1,708 crores. Under the terms of a share swap agreement, RHI Magnesita will acquire all outstanding shares in DOCL in exchange for 27 million new shares in RHI Magnesita India Limited.
  • On November 10,2022, the company reported a net profit of Rs.71.44 crores in September 2022, up 66.8% from the Rs.42.83 crores reported in September 2021.
  • On November 10,2022, the company reported a net sale of Rs. 103.64 crores in September 2022, up 57.05% from the Rs. 65.99 crores reported in September 2021.
  • RHI Magnesita India Limited on October 19,2022, said that it has acquired the refractory business of Hi-Tech for Rs.621 crores in an all-cash deal.
  • On August 23,2022, the company declared a dividend of Rs 2.50 per equity share subject to the approval of shareholders.


        (Sources: BSE, Moneycontrol, Economics Times, Business Standard)


Technical Force

  • S&P BSE 500 month till date gain by 0.69%.
  • 3 months avg. NSE volume: 535,111
  • Quantity traded: 2,92,722| Deliverable quantity: 33,868 (11.57%).
  • Stock price jumped by more than 130 % from a one-year low level: 330.00 (December 01, 2022)
  • Daily RSI (14) is in overbought territory today.
  • 52-week-high: 835.40| 52-week-low: 330.00.


Key Pivot (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

644.37

527.18

446.97

329.78

249.57

132.38

52.17

-

Fibonacci Pivot

527.18

451.78

405.19

375.19

329.78

284.38

254.38

207.79

132.38


Today’s Close

796.10

SMA

BSE

10 DAY

648.74

20 DAY

656.54

50 DAY

662.22

200 DAY

575.81


Some Key Ratios (Source: BSE)

Market Cap:  12,816.92 Crores

PE:  39.00

OPM%: 17.30

ROE%:  28.80

Promoters holding%: 70.19

Prev. Close:  704.05


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The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Espresso Financial Services Pvt. Ltd bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Espresso Financial Services Pvt. Limited is under no obligation to update the information in this document from time-to-time.

Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.