Espresso shot of the day – FINOLEX CABLES LTD up by 9.15 percent

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Espresso shot of the day – FINOLEX CABLES LTD up by 9.15 percent

November 15, 2021
Espresso shot of the day – FINOLEX CABLES LTD up by 9.15 percent

FINOLEX CABLES LTD 550.25  (+9.15%) BSE – INE235A01022 | 15TH NOVEMBER 2021

Finolex Cables started its operation with the manufacture of PVC insulated electrical cables for the automobile industry. Since then, the company has constantly endeavored to augment its product range to include PVC Insulated Industrial Cables , FR-LSH PVC Insulated Industrial Cables, PVC Insulated Single Core and Multicore Flexible Industrial Cables, Rodent Repellent Multicore Flexible Industrial Cables, PVC Insulated Winding Wires and 3 Core Flat Cables, XLPE 3 Core Flat Cables, Power and Control Cables, High Voltage Power Cables (Up to 33 kV), Polyethylene Insulated Jelly Filled Telephone Cables, Auto & Battery Cables, Co-axial and CATV cables, LAN Cables, Switchboard Cables, Fibre Optic Cables, Solar Cables and others.

Recent Drivers

  • On Nov 13, 2021, the company’s net profit rose 116.75% to Rs 149.73 crores in the quarter ended September 2021.
  • On Nov 13, 2021, the company’s sales rose 45.91% to Rs 932.98 crores in the quarter ended September 2021.
  • On Nov 11, 2021, Finolex Cables announced its entry into the room heater segment with a new range of high-performance room heaters.
  • On Oct 1, 2021, Finolex Cables announced on Friday that five of its directors had been voted down by two of the company's shareholders at its Annual General Meeting (AGM)
(Sources: Business Today, Business Standard)


Technical Force*

  • S&P BSE 500 month till date gain up by 3.35%
  • 3 months avg. NSE volume: 242,040
  • Quantity traded: 93,574 | Deliverable quantity: 40,396 (43.17%)
  • Stock price jumped by more than 95 % from one-year low level: 270.00 (Nov 17, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 557.05 | 52-week-low: 270.00


Key Pivot (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

 724.90

577.40

460.00

312.50

195.10

47.60

-

    -

Fibonacci Pivot

577.40

 476.21

413.69

373.43

312.50

257.57

211.31

148.79

47.60


Today’s Close

550.25

SMA

BSE

10 DAY

496.06

20 DAY

481.64

50 DAY

489.59

200 DAY

447.16


Some Key Ratios (Source: BSE)

Market Cap: 8,415.49 crores

PE: 21.94

OPM%: 23.29

ROE%: 12.44

Promoters holding%: 35.92

Prev. Close: 504.10


Chart And Technical Force data taken from the Binge desktop app.

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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.