On 20 Nov 2025, International Combustion (India) recorded this fresh low, reflecting a continuation of the stock's subdued performance over the past year. Despite the broader market's positive momentum, with the Sensex opening higher at 85,470.92 and reaching a new 52-week high of 85,305.25, the stock has not mirrored this upward trend. The Sensex's gain of 0.14% today contrasts with International Combustion's day change of -0.17%, although the stock did outperform its sector by 2.58% during the trading session.
The stock touched an intraday high of Rs.647.95, representing a 2.67% movement within the day, yet it remains below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This positioning indicates that the stock is trading in a lower range relative to its recent historical price levels.
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Over the last twelve months, International Combustion (India) has recorded a price return of -35.05%, a stark contrast to the Sensex's 9.93% gain over the same period. The stock's 52-week high was Rs.1,049, highlighting the extent of the decline to the current low. This underperformance is further emphasised when compared to the BSE500 index, which has generated returns of 8.31% in the past year.
Financially, the company reported flat results in the quarter ending September 2025. The Profit After Tax (PAT) for the quarter stood at Rs.0.12 crore, showing a decline of 42.9% compared to the previous corresponding period. The Return on Capital Employed (ROCE) for the half-year was recorded at 9.34%, which is the lowest level observed in recent periods. These figures suggest a period of subdued profitability for the company.
Despite these challenges, the company maintains a low average Debt to Equity ratio of 0.06 times, indicating limited leverage on its balance sheet. The Return on Equity (ROE) is at 9.2%, and the stock trades at a Price to Book Value of 1.2, which is considered an attractive valuation metric relative to its peers' historical averages. Over the past year, while the stock price has declined, the company’s profits have risen by 8.6%, with a Price/Earnings to Growth (PEG) ratio of 1.5, reflecting a moderate relationship between earnings growth and valuation.
Majority ownership of International Combustion (India) remains with the promoters, which can be a factor in the company’s strategic direction and governance.
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In the context of the broader market, the Sensex is trading above its 50-day moving average, which itself is positioned above the 200-day moving average, signalling a bullish trend for the benchmark index. Mega-cap stocks are leading the gains, contributing to the Sensex's positive performance. However, International Combustion (India) has not aligned with this trend, continuing to trade below its key moving averages and reflecting a more cautious market assessment.
The stock’s recent trend reversal, following two consecutive days of decline, saw a modest gain today, yet it remains near its 52-week low. This suggests that while there may be short-term fluctuations, the overall price level remains subdued compared to historical highs.
Given the current valuation metrics and financial results, International Combustion (India) is positioned at a price level that reflects the market’s assessment of its recent performance and outlook. The stock’s trading below all major moving averages indicates that it is in a lower price band relative to its recent history, which is consistent with the 52-week low recorded today.
Investors and market participants observing International Combustion (India) will note the divergence between the company’s stock performance and the broader market indices, which have shown resilience and gains over the past year. The company’s financial indicators, including profitability and capital efficiency metrics, provide a factual basis for the current market valuation.
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