Stock of Interest

Posted On: July 31, 2023

Stock Report: MMFL (NSE) 28 Jul 23 

MM Forgings Limited is a well-established public limited company incorporated in 1946 and based in Chennai, Tamil Nadu, India. It specializes in the manufacture of steel forgings for a variety of industries, including automotive, off-highway, agricultural, and high-pressure valves. The company offers a wide range of steel forgings in different grades and weight ranges. As of the financial year ending on March 31, 2022, MM Forgings Limited recorded operating revenues exceeding INR 500 crore. Notably, its EBITDA saw a significant increase of 66.32% compared to the previous year, while its book net worth also experienced a growth of 15.44%. With a strong focus on automotive components, the company produces closed die forgings, such as axle beams, steering knuckles, crankshafts, and more. Additionally, it engages in exporting activities, expanding its reach beyond India’s borders. Overall, MM Forgings Limited boasts a long-standing presence in the industry, catering to diverse sectors with its high-quality steel forgings. 

#xCalData predicts #MMFL will continue its Bullish phase over the next five days and trend in the range of 1041.9 to 965.5. 

In comparison to the previous month, the price of the stock has experienced an increase of 6.30% indicating a bullish. 

The Stock has doubled twice since 23 Nov 2015 and took an average of 3.3 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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