Relicab Cable Manufacturing Faces Severe Financial Challenges Amid Market Volatility

Relicab Cable Manufacturing has experienced significant volatility today, hitting a new 52-week low of Rs. 44.6. The stock has underperformed its sector by 5.49%, continuing a downward trend with a 10.7% decline over the past four days. Intraday, the stock reached a high of Rs. 48.95, reflecting a brief recovery of 4.15% before falling back.
In terms of performance metrics, Relicab Cable's one-year performance stands at a stark -47.56%, contrasting sharply with the Sensex's positive return of 4.86%. The company's financial health appears concerning, with a weak EBIT to Interest ratio of 1.50, indicating challenges in servicing its debt. Recent quarterly results show a decline in net sales by 11.73%, with the lowest recorded PBDIT at Rs. 0.87 crore.

Technically, the stock is in a bearish range, with indicators such as MACD and Bollinger Bands suggesting continued weakness. Additionally, a high percentage of promoter shares—99.94%—are pledged, which may exert further downward pressure in a declining market. Overall, Relicab Cable Manufacturing's current performance reflects significant challenges within the microcap cable industry.