The price action and the volumes seem to be painting a LONG picture for Indigo Paints scrip. Read on further on the chart to find the factors that make this chart an attractive one a this point. It would be interesting to see if the chart is promising a revisit to its ATH (all-time high) prices.
Note
Other Fundamental factors making it attractive are:1) With the promoter's holding consistent at around 54%,
a) the FIIs increased their stake from 8.28% at Jun'24 to 12.31% at Sep'24
b) the DIIs increased their stake from 1.07% at Jun'24 to 16.14% at Sep'24
2) The company has doubled its Fixed Assets (Capacity) b/w MAr'23 and Mar'24 while still remaining debt-free, it has maintained consistent profit margins around 18%, P/E is not overvalued, and is at par with the industry P/E.
3) Crude Oil price drop has a favorable impact on oil companies.
4) With gold demand muted amidst the festive season in India, maybe more people will invest in getting their houses painted this year :) - bringing good quarters ahead.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.