BEPL : Could be buy on dips
تم تحديثه
Scrip can be seen taking crucial support at 158 and has formed cup and handle formation. Any pullback could be opportunity to buy fundamentally sound company. I think once it comes out of the formation after some pullback, Should surge up to greater highs
MACD bearish convergence can occur when the moving averages move towards each other and can pullback the scrip near support levels due to short selling or shortes
Pros:
1) Debt free (The company recently made announcement that the pledged equity shares of promotors have been released in tune of 5cr.)
We are also encouraged by recent promoter activity (sequential improvement in share holdings), debt pay-off (zero debt company) and the release of pledge shares.
bseindia.com/xml-data/corpfiling/AttachHis/54aa81b4-bc89-45ce-a733-67d147bde98c.pdf
2) Auto sector booming which would eventually benefit the company in long run
Bhansali Engineering Polymer's (BEPL) improving earnings trajectory, strengthening balance sheet and traction in capacity expansion adds to our conviction on the stock.
moneycontrol.com/news/business/moneycontrol-research/bhansali-engineering-bhansali-engineering-accumulate-with-a-long-term-view-2549753.html
However, Higher other expenses (63% QoQ) due to a forex loss (Rs 6.82 crore) and debtor write-off (Rs 8.56 crore) dented net profit sequentially (-2% QoQ). but the company should recover for it in next quarter
Cons:
1) P/B on higher side: 13.99
2) Stock P/E: 37.28 on higher side
3) P/S on higher side
screener.in/company/BEPL/
however, seeing the growth history, The cons can be overshadowed by long term investors showing conviction in the company
MACD bearish convergence can occur when the moving averages move towards each other and can pullback the scrip near support levels due to short selling or shortes
Pros:
1) Debt free (The company recently made announcement that the pledged equity shares of promotors have been released in tune of 5cr.)
We are also encouraged by recent promoter activity (sequential improvement in share holdings), debt pay-off (zero debt company) and the release of pledge shares.
bseindia.com/xml-data/corpfiling/AttachHis/54aa81b4-bc89-45ce-a733-67d147bde98c.pdf
2) Auto sector booming which would eventually benefit the company in long run
Bhansali Engineering Polymer's (BEPL) improving earnings trajectory, strengthening balance sheet and traction in capacity expansion adds to our conviction on the stock.
moneycontrol.com/news/business/moneycontrol-research/bhansali-engineering-bhansali-engineering-accumulate-with-a-long-term-view-2549753.html
However, Higher other expenses (63% QoQ) due to a forex loss (Rs 6.82 crore) and debtor write-off (Rs 8.56 crore) dented net profit sequentially (-2% QoQ). but the company should recover for it in next quarter
Cons:
1) P/B on higher side: 13.99
2) Stock P/E: 37.28 on higher side
3) P/S on higher side
screener.in/company/BEPL/
however, seeing the growth history, The cons can be overshadowed by long term investors showing conviction in the company
ملاحظة
Also, Some positive insights here about the company :economictimes.indiatimes.com/markets/expert-view/indian-bull-market-is-not-over-but-it-hinges-on-investment-cycle-coming-back-chris-wood-clsa/articleshow/63797561.cms
valueresearchonline.com/stocks/snapshot.asp?code=510&utm_source=direct-click&utm_medium=stocks&utm_term=&utm_content=Bhansali+Engineering+Polymers&utm_campaign=vro-search
(Essential checks ratings show the company is safe to invest in terms of solvency and good performance in past 9 years)
ملاحظة
*Past 1 yearملاحظة
Might see bearish crossover probably due to profit booking which can take the scrip towards crucial support levels - 165-170 henceforth, making it a great investment opportunity at right price levels When the MACD is negative (comes below the zero line) this signals that the shorter term is below the longer, which suggests that the current price has downside momentum
ملاحظة
I think it has started to come in right price entry range to enter :)تم فتح الصفقة
تم فتح الصفقة
Can we see bullish reversal from here due to several signs --1) Doji star candlestick at downtrend - Upon seeing a Doji in an overbought or oversold condition, an extremely high probability reversal situation becomes evident. When a Doji appears, it is demonstrating that there is indecision now occurring at an extreme portion of a trend.
2) Oversold situation - RSI
3) Histogram of MACD completing its formation from below
تم فتح الصفقة
As the scrip has cracked till crucial support levels however, last candlestick can be seen taking hammer alike position with bulls managing to push the price up although it has turned bearish. Liked that Promoters have started buying good quantities from open market :
bseindia.com/stock-share-price/stockreach_insidertrade_new.aspx?scripcode=500052&expandable=2
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