Chembond Material Technologies Hits New 52-Week Low at Rs. 160.5
Chembond Material Technologies has reached a new 52-week low, reflecting a significant downturn in its stock performance. The company has underperformed its sector and experienced a notable decline over the past year, with recent financial results indicating decreased net sales and profit after tax. Despite these challenges, it maintains a low debt-to-equity ratio.
Chembond Material Technologies, a microcap player in the specialty chemicals industry, has reached a new 52-week low of Rs. 160.5 today, marking a significant downturn for the stock. This decline comes as the company has underperformed its sector by 2.53% and has seen a consecutive drop over the last two days, totaling a loss of 4.73% during this period. The stock's performance has been notably weak, trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past year, Chembond Material Technologies has experienced a staggering decline of 72.83%, contrasting sharply with the Sensex, which has only dipped by 0.08% in the same timeframe.
Recent financial results have contributed to this downward trend, with net sales for the last quarter falling by 16.1% compared to the previous four-quarter average. Additionally, the company's profit after tax has decreased by 46.22% over the past nine months. Despite these challenges, Chembond maintains a low debt-to-equity ratio and a healthy long-term growth rate in operating profit.
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