Sandur Manganese & Iron Ores Faces Technical Challenges Amid Strong Financial Performance
Sandur Manganese & Iron Ores has recently undergone an adjustment in evaluation, reflecting changes in its technical indicators and market position. The stock's technical trend has shifted from a sideways movement to a mildly bearish stance, as indicated by various metrics. The MACD readings for both weekly and monthly periods suggest a mildly bearish outlook, while the Bollinger Bands also reflect bearish conditions. Despite these technical adjustments, Sandur Manganese has demonstrated strong long-term fundamentals. The company reported a significant increase in net sales for the latest quarter, achieving Rs 1,321.27 crore, which marks a growth of 123.4% compared to the previous four-quarter average. Additionally, the operating profit has shown a robust annual growth rate of 42.24%.
The company maintains a healthy financial profile with a low Debt to EBITDA ratio of 0.44 times and an average Return on Capital Employed (ROCE) of 38.58%. However, there has been a slight decline in institutional investor participation, with a decrease of 0.95% in their stake over the last quarter.
Overall, while Sandur Manganese & Iron Ores faces some technical challenges, its underlying financial strength remains notable.
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