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Introduction
Incorporated in 2003, It is an animal protein company, primarily engaged in the production of Fish Meal, Fish Oil and Fish Soluble Paste as well as developing alternative proteins such as Black Soldier Fly (BSF) Insect meal in the animal food segment.
Observation
As we can see stock trend has been change from lower high, lower low to higher high, higher low from 4th June 2024. Stock taking three supports on rising trend line as I mentioned on the chart. Stock has breakout 36 level on 12th of July which is previous low with huge trading volume. Rsi also show strength with bullish crossover. for better up move stock can retrace till 37.74 levels after that stock can easily breakout 40 levels. Although quarterly sales are dropping still net profit are increasing. public holding is 19% stock is already in strong hands, debt to equity ratio is also high that means company has a debt. YOY salsa and profit are increasing.
Technical Analysis & indicators 🔍
Inverted Head & Shoulder
News of the day
1. HCLTech India's No.3 IT services provider reported a 6.7% rise in first-quarter revenue on Friday, and projected growth in most verticals and geographies in the current quarter. HCLTech posted first-quarter revenue of ₹28,057 crore in Indian rupees (₹2.76 lakh crore).
2. Cyient Engineering technology company has incorporated a wholly owned subsidiary to expand its semiconductor business, according to a Friday filing. The move aims to help the company boost its capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing. Shares of the company were up nearly 4% in recent trade.
3. Infosys INFY North American subsidiary, Infosys Public Services, has received a contract for modernizing the Delaware Department of Labor’s existing systems. Infosys Public Services has been given the task of developing a platform for paid family medical leave program. Infosys Public Services introduced LaborForce in 2022. LaborForce is an unemployment insurance platform-as-a-service solution built on the Salesforce CRM platform. The LaborForce platform provides tax, benefits, appeals and workforce-related solutions.This solution provides improved customer relationship management, analytics expertise and reduced long-term ownership costs. The LaborForce is one of those solutions that Infosys Public Services uses to expand its market share in the public sector software market.
Educational content
Mon Jul 15, 2024
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