Why is California Soft. falling/rising?
As of 23-Jun, California Software Company Ltd's stock is priced at 13.27, down 4.94% over the last three days, but has gained 30.37% over the past year. Despite recent underperformance compared to the market, positive indicators like rising profits and increased promoter confidence suggest potential for recovery.
As of 23-Jun, California Software Company Ltd's stock is currently priced at 13.27, reflecting a decline of 0.69, or 4.94%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 14.17% during this period. Despite this recent downturn, the stock has shown strong performance over the past year, generating a return of 30.37%, significantly higher than the market's average return of 2.78%. Positive factors contributing to the stock's valuation include a high debtors turnover ratio and rising profits, alongside an attractive price-to-book value ratio. Additionally, increased promoter confidence, with a 26.53% rise in stake, suggests optimism regarding the company's future.In the broader market context, the stock's short-term performance has been notably weaker compared to the benchmark, as it has declined by 5.42% over the past week while the Sensex has seen a slight increase of 0.12%. This underperformance is compounded by the stock's current price being lower than its 5-day moving average, despite being above longer-term moving averages. The liquidity of the stock remains adequate, with a delivery volume that has increased against its 5-day average, indicating some investor interest, but the overall trend suggests a challenging environment for the stock in the short term.
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