Suryaamba Spinning Mills Hits New 52-Week Low at Rs. 124.7
Suryaamba Spinning Mills has reached a new 52-week low of Rs. 124.7, following a decline after four days of gains. The stock is trading below all major moving averages and has dropped 14.17% over the past year, despite reporting positive quarterly results and an attractive valuation.
Suryaamba Spinning Mills has reached a new 52-week low, hitting Rs. 124.7 today, marking a significant decline in its stock performance. This drop comes after a brief period of gains, as the stock has fallen following four consecutive days of increases. Today, it underperformed the sector by 8.19%, with an intraday low of Rs. 124.7, reflecting an 8.91% decrease.In terms of moving averages, Suryaamba Spinning Mills is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past year, the stock has experienced a decline of 14.17%, contrasting sharply with the Sensex, which has gained 9.09% during the same period.
Despite the recent downturn, the company has reported positive results for the last three consecutive quarters, with a profit after tax of Rs. 1.45 crore in the latest six months. The stock's valuation remains attractive, with a return on capital employed (ROCE) of 6.9 and a PEG ratio of 0.6, suggesting it is trading at a discount compared to its peers.
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