Potential of 60% upside in Few years Ashoka Buildcon
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Entry #198 above
SL #174 WCB
Target 300+
Based on the latest financial data for Ashoka Buildcon Ltd from Q3 FY24, here are some key points:
1. **Revenue Growth**: The company saw a significant increase in revenue, growing by 35.83% compared to the same quarter last year, demonstrating strong sales performance.
2. **Profitability Concerns**: Despite the increase in revenue, net profit fell by 21.16% year-over-year. This decline in profitability could be due to higher operational costs and an increase in selling, general, and administrative expenses, which rose by 10.63% year-over-year.
3. **Market Sentiment**: Despite recent drops in profit, the stock has shown good performance with a return of 93.29% in the last six months, indicating strong market sentiment. The consensus among analysts is leaning towards a strong buy, suggesting confidence in the stock's future performance.
4. **Technical Analysis and Trading Strategy**: With the stock facing resistance around INR 200 and based on your trading rules and the current market price (CMP), a prudent approach would be to buy above INR 198. Set a stop loss at 4% below CMP, which would be around INR 174.58.
Considering these points, Ashoka Buildcon appears to be an attractive buy, but keep an eye on the operational efficiencies and cost management strategies of the company in upcoming quarters to ensure sustained growth and profitability.
SL #174 WCB
Target 300+
Based on the latest financial data for Ashoka Buildcon Ltd from Q3 FY24, here are some key points:
1. **Revenue Growth**: The company saw a significant increase in revenue, growing by 35.83% compared to the same quarter last year, demonstrating strong sales performance.
2. **Profitability Concerns**: Despite the increase in revenue, net profit fell by 21.16% year-over-year. This decline in profitability could be due to higher operational costs and an increase in selling, general, and administrative expenses, which rose by 10.63% year-over-year.
3. **Market Sentiment**: Despite recent drops in profit, the stock has shown good performance with a return of 93.29% in the last six months, indicating strong market sentiment. The consensus among analysts is leaning towards a strong buy, suggesting confidence in the stock's future performance.
4. **Technical Analysis and Trading Strategy**: With the stock facing resistance around INR 200 and based on your trading rules and the current market price (CMP), a prudent approach would be to buy above INR 198. Set a stop loss at 4% below CMP, which would be around INR 174.58.
Considering these points, Ashoka Buildcon appears to be an attractive buy, but keep an eye on the operational efficiencies and cost management strategies of the company in upcoming quarters to ensure sustained growth and profitability.
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