Triveni Turbine Ltd. has made headlines today, November 26, 2024, as its share price surged by an impressive 6.7%, reaching ₹812.00 from a previous close of ₹764.15. This remarkable increase not only underscores the stock’s inherent volatility but also reflects heightened investor interest amid favorable market conditions and strong company performance metrics.
Today’s Performance Overview
Here’s a snapshot of Triveni Turbine’s performance today:
- Open Price: ₹764.15
- Previous Close: ₹764.15
- Today’s Low: ₹763.10
- Today’s High: ₹812.00
- 52-Week Low: ₹350.35
- 52-Week High: ₹843.95
- Volume Traded: 2,478,423 shares
- Total Traded Value: ₹200 Crore
- Market Capitalization: Approximately ₹24,934 Crore
The trading volume today significantly surpassed average levels, indicating a robust bullish sentiment among investors.
Reasons Behind the Share Price Surge
Several factors have contributed to this significant uptick in Triveni Turbine’s share price:
- Positive Earnings Report:
- The company recently reported a year-on-year revenue growth of 29.23%, which has bolstered investor confidence and attracted new investments.
- Analyst Recommendations:
- A number of financial analysts have issued buy recommendations for Triveni Turbine, with target prices ranging from ₹800 to ₹870. This endorsement from analysts has further fueled investor interest.
- Market Sentiment:
- Broader market trends and a general optimism surrounding the engineering sector have also played a vital role in driving up the stock price.
Technical Analysis
The technical indicators for Triveni Turbine suggest a bullish trend:
- P/E Ratio: 86.45
- EPS (TTM): ₹9.07
- Beta: 1.31 (indicating higher volatility compared to the market)
Support and Resistance Levels
| Level | Price (₹) |
|---|---|
| Support | S1: 611.35 |
| S2: 547.05 | |
| Resistance | R1: 916.95 (Upper Circuit) |
| R2: 843.95 (52W High) |
Moving Averages
Recent technical signals indicate potential upward momentum:
- A crossover in moving averages on October 18 suggested bullish potential.
- Historically, the stock has shown an average price gain of approximately 5.28% within seven days following similar signals over the past five years.
Fundamental Analysis
Triveni Turbine operates within the heavy engineering sector and has demonstrated solid financial health:
- The company effectively manages its operating expenses, allocating less than 1% of revenues to interest expenses.
- The return on equity (ROE) is notably high at 28.5%, reflecting strong management effectiveness and profitability.
Financial Highlights
For the last fiscal year, Triveni Turbine reported total operating revenue of approximately ₹811.37 Crore and maintains a low debt profile, which is advantageous for long-term stability.
Market Capitalization and Shareholder Insights
As of today, Triveni Turbine’s market capitalization stands at around ₹24,934 Crore, positioning it as a significant player in the mid-cap segment of the Indian stock market.
Shareholder Returns
Investors have enjoyed substantial returns over various time frames:
- Over the past year, the stock has appreciated by approximately 111.69%.
- Over three years, it has delivered an impressive return of around 375.11%.
FAQs about Triveni Turbine Share Price
- What is the current share price of Triveni Turbine?
- As of November 26, 2024, the share price is ₹812.00.
- What are the target prices set by analysts?
- Target prices from analysts range between ₹800 and ₹870.
- How has Triveni Turbine performed over the past year?
- The stock has increased by approximately 111.69% over the last year.
- What factors influence Triveni Turbine’s share price?
- Key factors include earnings reports, analyst recommendations, market sentiment, and overall economic conditions.
Conclusion
In summary, Triveni Turbine Ltd.’s impressive share price surge today reflects strong financial performance and positive market sentiment, making it an attractive option for investors seeking growth opportunities in the engineering sector.