The stock has given a breakout from the important Resistance zone of Rs 1,524-Rs 1,549 and is heading toward its targets which is of Rs 1,885 level as T1.
The stock is experiencing good buying pressure, and it has crossed even 50DMA in the volumes chart.
Analyzing the fundamentals, the company’s sales have shown strong growth, increasing from Rs 7,556 crore in 2021 to Rs 12,481 crore in 2024, which corresponds to an 18% compound annual growth rate (CAGR) over three years.
However, the company’s net profit has not kept pace, with a negative 22% CAGR over the same period, primarily due to high expenditure in generating sales and producing the product.
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