Espresso shot of the day – Meghmani Organics Ltd up by 11.05 percent

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Espresso shot of the day – Meghmani Organics Ltd up by 11.05 percent

March 10, 2021
Espresso shot of the day – Meghmani Organics Ltd up by 11.05 percent

MEGHMANI ORGANICS LTD 93.45 (+11.05%)  BSE – INE974H01013| 10TH MARCH 2021


It was in 1986, when Gujarat Industries was established as a partnership firm in Gujarat to manufacture pigments. High productivity and profitability transformed Gujarat Industries to a joint stock company, under the name of Meghmani Organics Limited, by 1995. Since then Meghmani Organics Limited has diversified its business interests to include a range of pesticides and other pigment products as well. Meghmani Organics Limited is a leading manufacturer of pigment and pesticide products in the country and is the recipient of several prestigious awards in recognition of its outstanding business performance.

Recent Drivers

  • Meghmani Organics Limited reported Quarterly Net Profit at Rs 69.34 crores in December 2020 up 45.64% from Rs 47.61 crores in December 2019.
  • Meghmani Organics Limited reported Net Sales at Rs 657.67 crores in December 2020 up 25.94% from Rs 522.22 crores in December 2019.
  • EBITDA of Meghmani Organics Limited stands at Rs 163.45 crores in December 2020 up 45.06% from Rs 112.68 crores in December 2019.
  • Meghmani Organics Limited (Company) has incorporated a Wholly Owned Subsidiary, Meghmani Synthesis Limited on 27th January, 2021 the Certificate of incorporation was received on 30th January, 2021.
  • In an article published on 5th March 2021, which talked about Firms incentivise vaccination for staff, MD of Meghmani Organics Limited Mr. Natubhai Patel said, “We have about 4,000 employees whom we have requested to get vaccinated, at their will of course. Currently, we are offering transport facilities to the older employees, but after the government allows all age groups, we may make arrangements for the entire staff.”

 (Sources: MoneyControl, Ahmedabad Mirror, BSE India)

Technical Force*

  • S&P BSE ALL CAP month till date gain up by 4.31%
  • Traded on new 52- week high 94.30
  • Spurt in volume by more than 4.12 times compares to previous vol. 3 months avg qty – 85,238
  • Quantity traded 11, 91,779 Deliverable quantity 4, 73,439(39.73%)
  • Stock price has jumped more than 170% from one year low level – 31.80 24 March 2020
  • Daily RSI (14) is in overbought territory today, RSI central line crossed above central line 9 periods ago
  • 52 -week high – 94.30 | 52- week low- 31.80

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

159.07

123.43

103.07

67.43

47.07

11.43

-

-

Fibonacci Pivot

123.43

102.04

88.83

80.31

67.43

54.55

46.04

32.83

11.43


Today’s Close

93.45

SMA

BSE

10 DAY

84.70

20 DAY

81.69

50 DAY

81.77

200 DAY

72.16

Some Key Ratios (Source: BSE)

Market Cap: 2376.57 crores

PE: 9.82

OPM%: 19.77

ROE%: 20.09

Promoters holding : 51.52

Prev. Close: 84.15

*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.