Why is Tuticorin Alkali falling/rising?
As of 19-Sep, Tuticorin Alkali Chemicals & Fertilizers Ltd is priced at Rs 74.35, with a year-to-date return of -24.10% and a significant decline in profits. Despite strong debt servicing capabilities, ongoing negative performance and investor sentiment have resulted in a lack of confidence and downward pressure on the stock.
As of 19-Sep, Tuticorin Alkali Chemicals & Fertilizers Ltd is currently priced at Rs 74.35, reflecting a slight increase of 0.1 (0.13%). The stock is trading 4.17% away from its 52-week low and has outperformed its sector by 0.46% today. However, it is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past year, the stock has generated a return of -21.11%, while its profits have decreased by 46.8%. The company has faced negative results for the last seven consecutive quarters, which has contributed to a lack of confidence among domestic mutual funds, as they hold only 0.01% of the company.In the broader market context, the stock has underperformed compared to the Sensex, which has gained 0.88% over the past week, while Tuticorin Alkali has declined by 0.87%. The stock's long-term performance is also concerning, with a -24.10% return year-to-date, contrasting with the Sensex's positive return of 5.74%. Despite the company's strong ability to service debt and healthy long-term growth in operating profit, the overall negative sentiment due to poor recent performance and declining profits has overshadowed these positive factors, leading to a lack of investor confidence and a downward pressure on the stock price.
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