Stock of Interest

Posted On: July 24, 2023

Stock Report : NAHARSPING(NSE) 21 Jul 2023

Nahar Spinning Mills Limited, founded as a modest worsted Spinning & Hosiery unit in Ludhiana, has evolved into a prominent textile player in India. From its inception as a Private Limited Company in 1980, it grew exponentially to become a Public Limited Company in 1983. The company’s dedication to manufacturing and exporting high-quality woollen/cotton hosiery knitwears and textiles garnered recognition as an “Export House” and a “Recognized Trading House” by the Government of India. Their remarkable achievements include receiving the “National Export Trophy” and Gold Trophies for exceptional export performance in Cotton Yarn and Processed Yarn. With a focus on backward integration, the company expanded its spindlage capacity to 5.38 Lacs (approx.) spindles and 1080 Rotors.

#xCalData predicts that #NAHARSPING will continue its bearish phase over the next five days and trend within the range of 271 to 257. 

 In comparison to the previous month, the price of the stock has experienced a decline of 7.93% indicating a bearish. 

 
The Stock has doubled twice since 26 Mar 2015 and took an average of 3.3 years to double. 

The stock has 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 1 years in the past. 

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

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

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