Why is SKM Egg Prod. falling/rising?
As of 29-Sep, SKM Egg Products Export (India) Ltd's stock price is Rs 302.15, down 5.0% today and 18.71% over the past month, despite a strong long-term growth outlook. Recent performance has been negatively affected by a 37.7% profit decline over the past year and bearish market sentiment, leading to underperformance compared to the benchmark Sensex.
As of 29-Sep, SKM Egg Products Export (India) Ltd's stock price is currently at Rs 302.15, reflecting a decline of Rs 15.9 or 5.0%. The stock has underperformed its sector by 4.73% today and has experienced a consecutive fall over the last two days, resulting in a total drop of 6.83%. Over the past week, the stock has decreased by 8.72%, while its one-month performance shows a significant decline of 18.71%. Despite a strong long-term growth outlook, with an annual operating profit growth rate of 121.44% and a low Debt to EBITDA ratio of 0.98, the stock's recent performance has been negatively impacted by a 37.7% fall in profits over the past year. Additionally, while promoter confidence has increased with a 0.85% rise in their stake, the stock's current trading price is lower than its moving averages for shorter periods, indicating potential bearish sentiment.In the broader market context, the stock's short-term performance has been notably weaker compared to the benchmark Sensex, which has only declined by 2.18% over the same week. The stock's year-to-date return of 20.07% and a one-year return of 18.49% still reflect a strong long-term performance, especially when compared to the Sensex's 2.85% year-to-date and -6.08% one-year returns. However, the recent underperformance in the short term, combined with falling investor participation and a significant drop in delivery volume, suggests that market sentiment is currently cautious regarding SKM Egg Products, contributing to its declining stock price.
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