Goodyear India Hits 52-Week Low Amid Ongoing Financial Struggles and Declining Performance

Goodyear India, a small-cap player in the Tyres & Allied industry, has seen significant activity today, hitting a new 52-week low of Rs. 810.65. This marks a notable decline, as the stock has been on a downward trajectory for the past seven days, resulting in a total drop of 6.09%. Despite this, Goodyear India managed to outperform its sector by 0.75% today.
The company's performance over the past year has been concerning, with a decline of 35.68%, significantly underperforming the Sensex, which has only dropped 1.40% in the same period. Financial metrics reveal a troubling trend, as Goodyear India has reported negative results for five consecutive quarters, with a sharp decline in both profit before tax and profit after tax compared to previous averages.

Additionally, the stock is trading below all key moving averages, indicating a bearish trend. With a return on equity of 7.8 and a price-to-book ratio of 3.2, the stock appears to be trading at a premium relative to its peers. The company's long-term growth prospects are further hindered by a negative operating profit growth rate of 14.67% over the last five years.