Why is Coastal Corporat falling/rising?
As of 23-Sep, Coastal Corporation Ltd's stock price is Rs 33.78, down 5.72% and has fallen 11.71% over the last three days. Despite a recent profit increase, weak long-term fundamentals and underperformance against benchmarks have led to negative investor sentiment.
As of 23-Sep, Coastal Corporation Ltd's stock price is currently at Rs 33.78, reflecting a decline of Rs 2.05 or 5.72%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total drop of 11.71% during this period. Today's trading saw the stock touch an intraday low of Rs 33.7, and it has been characterized by high volatility with an intraday fluctuation of 5.14%. Over the past week, the stock has decreased by 9.10%, while its year-to-date performance shows a significant decline of 36.50%. Despite a recent growth in net profit of 88.85% and attractive valuations compared to peers, the stock's long-term fundamentals are weak, with a negative CAGR growth in operating profits over the last five years and a high debt-to-EBITDA ratio, which negatively impacts investor sentiment.In the broader market context, Coastal Corporation's performance has significantly lagged behind the benchmark, with a 1-week return of -9.10% compared to the Sensex's -0.34%. The stock has consistently underperformed against the benchmark over the last three years, contributing to a lack of investor confidence. While the aquaculture sector has also seen a decline of 3.02%, the stock's poor performance relative to the benchmark and its weak long-term fundamentals have led to a negative outlook among investors, further exacerbating its price decline.
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