Nidhi Granites Achieves 52-Week High Amid Broader Market Decline, Signaling Strong Growth Potential

Nidhi Granites has made headlines today as its stock price reached a new 52-week high of Rs. 294.75, reflecting a significant milestone for the microcap company in the miscellaneous industry. This achievement comes amid a broader market downturn, with the Sensex experiencing a decline of 0.73%. Notably, Nidhi Granites has outperformed its sector by 3.22%, showcasing its resilience and strong market position.
The stock has demonstrated impressive momentum, gaining for eight consecutive days and delivering a remarkable 16.96% return during this period. Furthermore, Nidhi Granites is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a robust upward trend.

Financially, the company has shown exceptional growth, with net sales increasing at an annual rate of 174.53% and operating profit rising by 43.07%. The latest quarterly results revealed a record net sales figure of Rs. 19.81 crore and a substantial growth in profit before tax. With a low debt-to-equity ratio of 0.01 and a high return on equity of 22.06%, Nidhi Granites is positioned favorably in the market, despite some risks associated with pledged shares.