Espresso Shot of the Day - Finolex cables Ltd up by 12.65 percent

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Espresso Shot of the Day - Finolex cables Ltd up by 12.65 percent

February 15, 2023
Espresso Shot of the Day - Finolex cables Ltd up by 12.65 percent

FINOLEX CABLES LTD 671.95 (+12.65%) BSE – INE235A01022| 15th February 2023

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Finolex Cables Ltd is India's largest and leading manufacturer of electrical and telecommunication cables with a turnover more than Rs 26 billion. The company 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 February 9, 2023, Finolex Cables Ltd reported a quarterly net profit of Rs.154.31 crores in December 2022, up 7.91% from the
  • 143 crores reported in December 2021.
  • On February 9, 2023, Finolex Cables Ltd reported a quarterly net sale of Rs.1,150.31 crores in December 2022, up 18.23% from the 972.95 crores in December 2021.
  • Finolex CFO said on February 14,2023 that Finolex would hit the 500-crore mark in the FMEG business in two years and this could be through both organic and inorganic growth. The company is open to acquisitions in the space at the right valuations.
  • On January 5,2023, Finolex Cables Ltd announced in an exchange filing that it has launched its electric iron products in the domestic market under the category of small domestic appliances.
             (Sources: BSE, Money control, Financial Express)


Technical Force*

  • S&P BSE 500 month till date loss by 0.01%.
  • 3 months avg. NSE volume: 3,15,081
  • Quantity traded: 1,18,040| Deliverable quantity: 26,579 (22.52%)
  • Stock price jumped by more than 100 % from a one-year low level: 344.00 (May 18, 2022)
  • Daily RSI (14) is in overbought territory today.
  • 52-week-high 697.40| 52-week-low: 344.00


Key Pivot (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

895.53

744.72

645.63

494.82

395.73

244.92

145.83

-

Fibonacci Pivot

744.72

649.25

590.28

552.29

494.82

437.34

399.35

340.38

244.92


Today’s Close

671.95

SMA

BSE

10 DAY

570.28

20 DAY

559.41

50 DAY

553.68

200 DAY

469.52


Some Key Ratios (Source: BSE)

Market Cap:  10,276.76 Crores

PE:  21.78

OPM%: 15.15

ROE%:  13.80

Promoters holding%: 35.92

Prev. Close:  596.50


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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.