Relicab Cable Manufacturing Faces Significant Financial Challenges Amidst Market Volatility

Mar 19 2025 11:35 AM IST
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Relicab Cable Manufacturing has faced notable volatility, reaching a new 52-week low and showing a significant decline over the past ten days. The company's financial performance is weak, with declining net sales and a high percentage of pledged promoter shares, contributing to a bearish market outlook.
Relicab Cable Manufacturing has experienced significant volatility today, hitting a new 52-week low of Rs. 53.26. The stock has underperformed its sector by 6.88%, continuing a downward trend with a 31.53% decline over the past ten days. Today's intraday high reached Rs. 60.85, reflecting a modest gain of 3.49%, while the stock's low marked a steep drop of 9.42%.

In terms of market performance, Relicab Cable's one-year return stands at -39.38%, contrasting sharply with the Sensex's gain of 4.73% during the same period. The company's financial health appears weak, with a low EBIT to Interest ratio of 1.50 and a modest 7.47% CAGR growth in operating profits over the last five years. Recent quarterly results show a decline in net sales by 11.73%, with PBDIT and profit before tax also at their lowest levels.

Additionally, 99.94% of promoter shares are pledged, which may exert further downward pressure on the stock. Overall, Relicab Cable Manufacturing's technical indicators suggest a bearish trend, with the stock trading below all key moving averages.
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