Allied Blenders Achieves 52-Week High Amid Broader Market Downturn
Allied Blenders & Distillers has achieved a new 52-week high in its stock price, demonstrating resilience amid a broader market downturn. The company reported significant growth in net sales and profit, alongside increased institutional investment, highlighting its strong market position and management efficiency.
Allied Blenders & Distillers has made headlines today as its stock price reached a new 52-week high of Rs. 531.55, marking a significant milestone for the midcap beverage company. This achievement comes amid a broader market downturn, with the Sensex trading down by 0.24%. Despite this, Allied Blenders has outperformed its sector by 1.35%, showcasing its resilience and strong market position.The stock has shown impressive momentum, gaining consecutively over the past five days and delivering a remarkable 12.92% return during this period. It is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a robust upward trend.
Financially, Allied Blenders has demonstrated high management efficiency, reflected in a return on capital employed (ROCE) of 15.95%. The company has reported a 20.87% growth in net sales over the last six months, totaling Rs. 1,843.51 crore, while its profit after tax (PAT) stands at Rs. 135.20 crore. Additionally, institutional investors have increased their stake in the company, now holding 7.56%, further solidifying its strong market presence.
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