Why is Asian Granito falling/rising?
As of 22-Jul, Asian Granito India Ltd's stock price is Rs 59.86, down 1.87% after eight consecutive days of decline, totaling a 6.77% drop. Despite recent positive earnings, the stock has underperformed significantly against its sector and the Sensex, raising concerns about its long-term fundamentals and market confidence.
As of 22-Jul, Asian Granito India Ltd is experiencing a decline in its stock price, currently at Rs 59.86, reflecting a decrease of Rs 1.14 or 1.87%. The stock has been on a downward trend, having fallen for the last eight consecutive days, resulting in a total decline of 6.77% during this period. Additionally, the stock has underperformed its sector by 2.86% today and has shown significant negative returns over various time frames, including a 20.77% drop over the past year. Despite the company reporting positive results in the last three quarters, including a remarkable 905.5% growth in PAT, the stock's long-term fundamentals are weak, with a -22.05% CAGR growth in operating profits over the last five years and a poor EBIT to interest ratio, which raises concerns about its profitability and debt servicing capabilities.In the broader market context, Asian Granito's recent performance contrasts sharply with the benchmark, as it has underperformed the Sensex, which has only seen a slight decline of 0.47% over the past week. The stock's year-to-date performance is particularly concerning, with a drop of 11.32% compared to the Sensex's gain of 5.18%. This underperformance, coupled with the lack of domestic mutual fund investment, suggests a lack of confidence in the stock's future prospects, further contributing to its declining price. The market's overall sentiment appears to be cautious, especially given the stock's significant negative returns compared to the broader market's modest gains.
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