Stock of Interest

Posted On: August 9, 2023

Stock Report: FINCABLES (NSE) 08 Aug 23 

Finolex Cables Limited, a notable player in the domain of electrical cables and switches, is publicly traded on both BSE (500144) and NSE (FINCABLES). Established 65 years ago in 1958 by Pralhad Chhabria, its headquarters are situated in Mumbai, Maharashtra, India. The leadership of the company is under the guidance of Chairman Deepak Chhabria. Their product portfolio encompasses a range of offerings including electrical and communication cables, CFLs, and electrical switches. As a constituent of the Finolex Group, the company achieved a noteworthy revenue of ₹4,598 crore (US$580 million) and a net income of ₹504 crore (US$63 million) in FY23. The company operates through subsidiaries like Finolex Technologies, Finolex Wire Products Ltd, Finolex Finance Ltd, and Creole Holdings Company Ltd. 

#xCalData predicts #FINCABLES will continue its Bullish phase over the next five days and trend in the range of 1126.9 to 1058.65. 

In comparison to the previous month, the price of the stock has experienced an increase of 31.78% indicating a bullish.     

The Stock has doubled twice since 12 Jun 2015 and took an average of 4.0 years to double.    

The stock has not shown seasonality trend in the past. 

Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 2 years in the past. 

Majority of the technical ratios trend towards Bullish side of the spectrum. 

Collectively, xCalData suggests the stock would be in Bullish zone for next 5 days. 

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