Maral Overseas Faces Continued Decline Amid High Debt and Pledged Shares
Maral Overseas, a microcap in the Garments & Apparels sector, has hit a new 52-week low amid ongoing volatility. The stock has underperformed its sector and is trading below key moving averages. Financial challenges include high debt levels and a significant decline in profit, with a large portion of promoter shares pledged.
Maral Overseas, a microcap player in the Garments & Apparels industry, has experienced significant volatility today, reaching a new 52-week low of Rs. 51.4. This decline marks a continued trend, as the stock has underperformed its sector by 1.16% and has seen a consecutive drop over the last four days, totaling a decline of 9.01%. In terms of moving averages, Maral Overseas is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a bearish trend. Over the past year, the stock has faced a substantial decline of 34.11%, contrasting sharply with the Sensex, which has only dipped by 0.31% during the same period.
Financially, the company is grappling with high debt levels, reflected in a debt-to-equity ratio averaging 2.70 times, and a concerning PAT of Rs. -12.57 crore, which has plummeted by 107.8% compared to the previous four-quarter average. Additionally, 48.03% of promoter shares are pledged, which could exert further downward pressure on the stock in a declining market.
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