Garware Polyester Stock Is Breaking Out To New Highs

Posted Date: April 08 2021

Garware Polyester Stock

Garware Polyester stock has cleared an 8-week, 22% deep Consolidation today. Currently, the stock is trading around just 2% away from its ideal buy price of INR 775. The stock is offering investors an opportunity to get on board at the current price.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 16.3% away from the 10-week moving average.

Garware Polyester has been a roaring outperformer as compared to the broader market. It has a top-notch Relative Strength Rating of 96. In the last twelve months, the stock has soared over 347.3% as compared to 62.9% for the Nifty500.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the recent weeks. The overall long term trend of the line is also trending upward.

Another key part of the jigsaw is institutional sponsorship. Garware Polyester has an Accumulation/Distribution Rating of 'A+'. This represents heavy institutional buying over the past 13 weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, Garware Polyester has an excellent EPS Rank of 99, which indicates consistency in earnings. The earnings and sales for the stock have grown by 43% and 2%, respectively over the past three years. Its 3-years earnings stability is 23, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 53% and 2%, respectively. The 5-years earnings stability is 20. The return on equity for the last reported year is 6%.

The stock belongs to the industry group of Chemicals-Specialty, which is exhibiting a fair amount of strength in the current market environment. The current industry group rank is 55. The current price of Garware Polyester is 2% off from its 52-week high price and 430% above its 52-week low price.

The stock appears on our idea lists: Trend Template - 5 Months.

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