Carborundum Universal Ltd up by 8.71%: Traders Market Update | Espresso


Espresso shot of the day – Carborundum Universal Ltd up by 8.71 percent

November 24, 2021
Espresso shot of the day – Carborundum Universal Ltd up by 8.71 percent

CARBORUNDUM UNIVERSAL LTD 982.20  (+8.71%) BSE – INE120A01034 | 24TH NOVEMBER 2021

Carborundum Universal Limited (CUMI) was founded in 1954 as a tripartite collaboration between the Murugappa Group, The Carborundum Co., USA and the Universal Grinding Wheel Co. Ltd., U.K. The Company pioneered the manufacture of Coated Abrasives and Bonded Abrasives in India in addition to the manufacture of Super Refractories, Electro Minerals, Industrial Ceramics and Ceramic Fibres. Today, the Company’s range of over 20,000 varieties of Abrasives, Ceramics, Refractory products and electro-minerals manufactured across several locations in and outside the country. With state-of-the art facilities and strategic alliances with global partners, CUMI has achieved a reputation for quality and innovation. CUMI is one of the five manufacturers in the world with fully integrated operations that include mining, fusioning, wind and hydro power stations, manufacturing, marketing and distribution. Almost all of CUMI’s manufacturing facilities have received the ISO 9001 accreditation for quality standards. A well connected marketing and distribution network of offices and warehouses in India and abroad, ensure that service to customers is given prime importance.

Recent Drivers

  • On Nov 2, 2021, Carborundum Universal Limited(CUMI) reported a 14% rise in its consolidated profit after tax (and non-controlling interest) at Rs 98 crores for the quarter ended September 30 as against Rs 86 crores in the year-ago quarter
  • On Nov 2, 2021, CUMI reported growth in sales by 22% to Rs 834 crores from Rs 683 crores
  • On Aug 26, 2021, the company announced will buy a controlling stake in PLUSS Advanced Technologies Pvt Ltd (PLUSS), a specialty materials research and manufacturing company, at an initial investment of Rs 115 crores.
  • On Aug 3, 2021, Carborundum Universal has allotted 79,200 shares of Re.1/- each arising out of the exercise of stock options, granted to an option grantee of the company under the Employees Stock Option Scheme 2007.
  • On Oct 29, 2021, the company announced new strategy to toll manufacture, manufacturing in third party plants with its own people controlling the quality, for select products and address the mid segment of the abrasives business.

(Sources: Business Standard, Business Line)

Technical Force*

  • S&P BSE 500 month till date gain up by -0.34%
  • Traded on all time High Value 992.00
  • 3 months avg. NSE volume: 3,33,009
  • Quantity traded: 78,132 | Deliverable quantity: 32,060 (41.03%)
  • Stock price has jumped more than 185% from a one-year low level: 329.25 (Nov 26, 2020)
  • Daily RSI (14) is nearby Overbought territory today
  • 52-week-high: 992.00 | 52-week-low: 329.25

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Some Key Ratios (Source: BSE)

Market Cap: 18,638.57 crores

PE: 74.78

OPM%: 18.32

ROE%: 15.23

Promoters holding%: 41.96

Prev. Close: 903.50

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.