Analysing Ashoka Buildcon’s recent price movements, we observe a breakout from a sideways trend, hinting at a positive outlook. With a valid support at ₹92 and a potential retest of ₹107, consider buying around ₹93, setting an initial stop-loss at ₹84, and aiming for profits at ₹105. Capitalising on…

Technical Analysis: Ashoka Buildcon, Bata India and Carborundum Universal

Sharekhan is bullish on Carborundum Universal has recommended buy rating on the stock with a target price of Rs 1315 in its research report dated August 07, 2023.

Buy Carborundum Universal; target of Rs 1315: Sharekhan

ICICI Securities recommended hold rating on Carborundum Universal with a target price of Rs 1300 in its research report dated August 07, 2023.

Hold Carborundum Universal; target of Rs 1300: ICICI Securities

Prabhudas Lilladher is bullish on Carborundum Universal has recommended buy rating on the stock with a target price of Rs 1482 in its research report dated August 05, 2023.

Buy Carborundum Universal; target of Rs 1482: Prabhudas Lilladher

Carborundum Universal Ltd., (CUMI) standalone net profit for the June quarter rose 28% from the year-earlier period to ₹93 crore on strong performance in abrasives, electro minerals and ceramics segments.

CUMI Q1 net rises 28% to ₹93 crore

Carborundum Universal Ltd reports 6% rise in consolidated net profit to ₹118 cr in Q1FY24; standalone net profit up to ₹93 cr. Consolidated sales grew 6% to ₹1,191 cr, driven by strong performance across business segments. Cash & cash equivalents net of borrowings at ₹190 cr.

Carborundum Universal posts ₹118 crore net in Q1

Punjab & Sindh Bank, Carborundum Universal, Bank of Maharashtra, FACT, Jindal Stainless, Rail Vilas Nigam, Bharat Dynamics and IIFL Finance may move from smallcap to midcap category

AMFI rejig: IKIO Lighting, RVNL, Bank of Maharashtra shares among midcap contenders; JSPL, PNB may join largecap category

The board of directors of Carborundum Universal Ltd (CUMI), part of the diversified conglomerate Murugappa Group, has appointed Sridharan Rangarajan as its managing director with effect from August 3.

Board of CUMI appoints Sridharan Rangarajan as new MD from August 3

Mr. Rangarajan succeeds N. Ananthaseshan, who will be retiring from service

Carborundum Universal appoints Sridharan Rangarajan as MD

arborundum Universal Ltd board has appointed Sridharan Rangarajan as managing director with effect from August 3.

Carborundum Universal names Sridharan Rangarajan as MD

I think we expect the ceramics margin to stay and probably slightly improve. Electro mineral margin is also likely to stay. Abrasive margin is likely to improve because we will be doing better post this acquisition, so we will be doing better.

We expect ceramics margin to slightly improve going forward: Sridharan Rangarajan, Carborundum Universal

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Carborundum Universal Limited develops services and solutions for abrasives, electrominerals or ceramics. The Company's segments include Abrasives, Ceramics and Electrominerals.