Relicab Cable Manufacturing Faces Significant Volatility Amid Declining Financial Health

Relicab Cable Manufacturing has experienced significant volatility today, reaching a new 52-week low of Rs. 62. The stock has underperformed its sector by 7.59%, continuing a downward trend with a 20.15% decline over the past week. Despite opening with a gain of 5.49%, it quickly fell to an intraday low of Rs. 62, reflecting high volatility with an intraday fluctuation of 9.14%.
In terms of performance metrics, Relicab's one-year return stands at -35.56%, contrasting sharply with the Sensex's modest gain of 1.49% during the same period. The company's financial health appears concerning, with a weak EBIT to Interest ratio of 1.50 and a low return on capital employed (ROCE) of 9.2. Recent quarterly results show a decline in net sales by 11.73%, with the lowest recorded PBDIT and profit before tax figures.

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