Tribhovandas Bhimji Zaveri (TBZ) Trading Idea💡

Introduction

Tribhovandas Bhimji Zaveri Ltd. engages in the manufacture and trade of jewellery. It offers products made by gold, diamonds, platinum and jadau. The company products portfolio include bangles, bracelets, necklaces, ear-rings, rings, watches, pendants and chains. It also offers precious and semi-precious stone studded jewellery, platinum jewellery, loose diamond solitaires, loose precious and semi-precious stones.

Observation

Today stock 15% up with huge trading volume after budget outcome in the favor of craftsmanship company. after double bottom pattern on day chart breakout stock can go as high as 174 levels in very short span of time. stock weekly, monthly, and daily chart stock trade above 60 rsi as well as above all the EMA with Bullish crossover on 24th of June. stock can retrace till 143 to 140 for better up move till my T1 and T2 levels.

Let's touch fundaments

Stock PE is fall from 44 to 18 showing reasonable value buying ROCE 10.33 ROE 9.37 debt to equity ratio is 1.02% you can read my previous blog 👉 (Hathway Cable Trading Idea) zero pledge what is pledge you can read it here 👉 (Vascon Engineer Trading Idea). Public holding 25% promoter holding 74% sales and profit both are increasing QoQ and YoY.

Technical Analysis & indicators 🔍

Daily Chart

Double Bottom


News of the day

1. Hindustan Unilever posted a higher first-quarter profit on Tuesday, as much awaited rural recovery sparked demand revival in core segments. The company, a unit of UK's Unilever, reported a 2.7% rise in profit to 25.38 billion rupees (₹2,538 crore in Indian rupees) for the quarter ended June 30.

2. BPCL has awarded a tender to buy 6 million barrels of U.S. West Texas Intermediate (WTI) Midland crude from Occidental in the fourth quarter, traders said on Tuesday. The U.S. producer will deliver 2 million barrels of WTI each month to BPCL, they added.

3. India announced it will cut import duty on mobile phones and some key parts to 15% from 20%, a move that will directly benefit Apple, which still imports its high-end smartphones into the country despite increasing local production. Presenting the annual budget for 2024/25 in parliament on Tuesday, India's finance minister Nirmala Sitharaman said import tax on mobile phones, printed circuit board assembly (PCBA) and mobile chargers is in the "interest of consumers."

Educational content

This stock analysis is designed for educational purposes and should not be taken as financial advice. Please carry out your own research or consult with a financial advisor before investing.

Tue Jul 23, 2024

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