Steel Exchange India Faces Significant Volatility Amid Broader Market Decline
Steel Exchange India has experienced significant volatility, hitting a 52-week low of Rs. 7.8 today. The stock has underperformed its sector by 1.22% and has seen a consecutive decline over the past three days, resulting in a total drop of 4.04%. Currently, Steel Exchange India is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.In the broader market context, the Sensex opened positively but has since fallen by 241.05 points, reflecting a bearish sentiment as it trades below its 50-day moving average. Over the past year, Steel Exchange India has reported a staggering decline of 42.37%, contrasting sharply with the Sensex's modest gain of 0.49%.
Despite a remarkable growth in net profit of 483.09% reported in December 2024, the company's long-term fundamentals appear weak, with a return on capital employed (ROCE) of just 8.64% and a high debt-to-EBITDA ratio of 5.06 times. Additionally, 98.76% of promoter shares are pledged, which may exert further downward pressure on the stock in a declining market.
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