Why is OnMobile Global falling/rising?
As of 17-Sep, OnMobile Global Ltd's stock price is Rs 62.60, up 9.65%, with strong short-term performance but concerning long-term growth outlook due to significant past declines and lack of mutual fund investment. Recent gains are overshadowed by a troubling annual operating profit decline and underperformance against benchmarks.
As of 17-Sep, OnMobile Global Ltd's stock price is currently at Rs 62.60, reflecting an increase of Rs 5.51 or 9.65%. The stock has shown strong performance recently, gaining 16.83% over the last three days and outperforming its sector by 9% today. It opened with a gain of 2.64% and reached an intraday high of Rs 67.85, indicating significant investor interest. The company reported positive financial results, with net sales growing by 21.77% and the highest quarterly profit after tax at Rs 15.68 crore. However, the stock has a concerning long-term growth outlook, with an annual operating profit decline of 183.40% over the past five years and a significant underperformance against benchmarks, generating -31.01% returns in the last year.In the broader market context, OnMobile Global's short-term return of +15.99% over the past week significantly outpaces the Sensex's +1.56% return, indicating a strong relative performance in the short term. Despite this, the stock's long-term performance remains troubling, as it has consistently underperformed against the BSE500 over the past three years. The lack of domestic mutual fund investment, holding only 0% of the company, suggests a lack of confidence in its long-term prospects, which may weigh on future price movements despite recent gains.
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