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MAHARASHTRA SEAMLESS LTDMAHARASHTRA SEAMLESS LTDMAHARASHTRA SEAMLESS LTD

MAHARASHTRA SEAMLESS LTD

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Bullish View On Maharashtara Seamless Maharashtra Seamless Ltd About Incorporated in 1988, Maharashtra Seamless Ltd manufactures seamless pipes & tubes, ERW pipes. It is also in the business of renewable power generation and rig operations Key Points Business Overview: MSL is a part of the D. P. Jindal Group. It manufactures Seamless and Electric Resistance Welded (ERW) pipes. It has also developed a renewable power portfolio Product Categories: a) Electrical Resistance Welding Pipes: Company manufactures MS Black ERW pipes and Galvanized ERW pipes in various sizes, grades and specifications. ERW pipes have various applications like fencing, line pipe, scaffolding etc. b) Seamless Pipe: It is a pipe without a seam or a weld-joint in contrast to Seam or Welded pipe. MSL is also the only manufacturer in India to offer the maximum size range upto 20” catering to customers across all sectors. It exports to US, Canada, Latin America, Europe, Africa & Asia c) Coated Pipes: Pipeline coating protects ERW /Seamless pipes from corrosion, from moisture, other harmful chemicals. Types of coatings available are 3 LPE (External 3 Layer Polyethylene)-link, 3LPP (External 3 Layer Polypropylene)-link, FBE (External Fusion Bonded Epoxy (Single / Dual Layer))-link, Internal Epoxy Coating-link Production Facility: a) Seamless Pipes: Maharashtra ~4.50 Lac MT/Annum, Telangana ~2 Lac MT/Annum b) ERW Pipes: 1.25 MT/Annum c) Renewable Energy: Solar ~52.50 MW AC at Maharashtra & Rajasthan, Wind ~7 MW at Maharashtra d) Rig: New generation offshore jack up rig operating at 98% efficiency on 3 yearcontract with ONGC at ODR of USD 38,790 from May 2022 Market Share: a) ~55% in seamless pipes segment with manufacturing facilities at Nagothane & Mangaon in Maharashtra and Narketpally in Telangana b) ~18% in API certified, high frequency ERW pipes with manufacturing facility at Nagothane in Maharashtra User Industries: Agriculture, Automotive, Bearing, Chemical, Drinking Water, Engineering, Fertilizers, Irrigation, Mechanical, Oil and Gas, Petrochemical, Power Clientele: BPCL, British Gas, CAIRN, CPCL, Adani, BHEL, DLF, GMR, Grasim, HAL, NTPC, Samsung Production, Sales and Profit Volume - FY24: a) Seamless: Production ~394 kMT, Sales ~399 kMT, EBITDA/tonne ~Rs. 25793 b) ERW: Production ~100 kMT, Sales ~103 kMT, EBITDA/tonne ~Rs. 7315 Capex: Company is doing capex of ~Rs. 852 Cr (through internal accruals), distributed in Narketpally (USTPL) ~Rs. 264 Cr, Mangaon (MSL) ~Rs. 195 Cr, Nago thane (MSL) ~Rs. 393 Cr. There will be additional working capital requirement of Rs. 300 Cr in USTPL and Rs. 250 crores in MSL which would be funded from internal accruals Prepayment of Loans: Company has prepaid its long term loans taken for Telangana plant and rig acquisitions in October 2022 and June 2023 and is now a Zero debt company. Also, there are no ICDs or corporate guarantees outstanding as on 31st March 2024. Order Book: Company has a total order book of ~Rs. 1754 Crore which includes: a) Order of Rs. 1053 Crore from ONGC (~Rs. 674 Cr to be executed in 44 weeks) and OIL (~Rs. 379 Cr), which includes drill pipes orders of Rs. 129 Cr and ERW of ~ Rs. 5 Crore. b) Orders from other companies of Rs. 701 Cr which includes cylinder pipes orders of Rs. 84 Cr and ERW of Rs. 140 Cr Amalgamation: United Seamless Tubulaar Pvt. Ltd. (USTPL) was amalgamated with Maharashtra Seamless Ltd. (MSL) vide order of NCLT, Mumbai on 3rd March 2023 Change in Capital Structure - FY23: a) Company issued and allotted 6,69,99,626 Bonus Equity Shares in the proportion of 1:1 b) Company increased its Authorized Share Capital from Rs. 60 Cr to Rs. 70 Cr and then to Rs.1070 Cr Promoter Holding: Company's promoters are continuously increasing their stake for the past 7 years Revenue Breakup - FY23: Manufacturing ~97%, Scrap ~2%, Export Incentives and Income from Services ~1% Segment Revenue - FY23: Steel Pipes & Tubes ~97%, Power - Electricity ~1%, RIG ~1%, Others ~1% Geographical Revenue Split - FY23: Company exports to 9 countries with an exports contribution of ~20% of the total turnover Future Outlook: Company has reduced its exposure in non-core businesses and intends to focus on its core pipes and renewable energy businesses Resignation of KMP: Mr.Danish resigned as CFO and was replaced by Mr. Sarat on 17th Oct, 2022 who resigned and was replaced by Mr. Anuj on 1st June, 2023. Finally, Mr Anuj also resigned on 31st Jan, 2024
NSE:MAHSEAMLESLong
by TheGoldenFarmsofEquity
Maharashtra SeamlessTechnical Highlights: Elliott Wave Analysis: The chart appears to be following an Elliott Wave structure, where Wave 4 correction seems to have concluded near the 61.8% Fibonacci retracement level (~₹590). Wave 5 seems poised to begin, with the potential to push prices significantly higher. Fibonacci Extension Targets for Wave 5: Using the Fibonacci extension tool, the expected range for Wave 5 is between 1x and 1.618x of Wave 3. This translates to a possible upside of 80%–110% from the current price (~₹722). Moving Averages Support: The stock is currently trading above the 20-week SMA (₹665) The long-term 200-week SMA (~₹467) remains intact as a solid baseline. MACD Momentum: The MACD line has recently crossed above the signal line, indicating a potential shift towards bullish momentum. MACD Momentum: The MACD line has recently crossed above the signal line, indicating a potential shift towards bullish momentum. Key Levels to Watch: Support: ₹590 (61.8% retracement), ₹665 (20-week SMA) Resistance: ₹900 (23.6% retracement), ₹1,090 (Fibonacci extension target 1x) Wave 5 Potential Target Zone: ₹1,090–₹1,875 Trading Strategy: Bullish Outlook: If the stock maintains its support levels and begins to form higher highs, a long position targeting the Fibonacci extension levels could yield significant gains. Risk Management: Keep an eye on the ₹590 level, as a break below this could invalidate the Wave 5 scenario.
NSE:MAHSEAMLESLong
by shekharvsingh1
Amazing breakout on Weekly Timeframe - MAHSEAMLESCheckout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favor that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED! NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!! #No complicated chart patterns #No big big indicators #No Excel sheet or number magics TRADE IDEA: WAIT FOR THE STOCK TO BREAKOUT IN LOWER TIMEFRAME AND RETRACE IF NEEDED. SL IS NEARER SUPPORT ZONE IN Daily TIMEFRAME. Checkout an amazing breakout happened in the stock in Weekly timeframe. Breakouts happening in longer timeframe is way more powerful than the breakouts seen in Daily timeframe. You can blindly invest once the weekly candle closes above the breakout line and stay invested forever. Also these stocks breakouts are lifelong predictions, it means technically these breakouts happen giving more returns in the longer runs. Hence, even when the scrip makes a loss of 10% / 20% / 30% / 50%, the stock will regain and turn around. Once they again enter the same breakout level, they will flyyyyyyyyyyyy like a ROCKET if held in the portfolio in the longer run. Time makes money, GREEDY & EGO will not make money. Also, magically these breakouts tend to prove that the companies turn around and fundamentally becoming strong. Also the magic happens when more diversification is done in various sectors under various scripts with equal money invested in each N500 scripts. The real deal is when to purchase and where to purchase the stock. That is where Breakout study comes into play. LET'S PUMP IN SOME MONEY AND REVOLUTIONIZE THE NATION'S ECONOMY!
NSE:MAHSEAMLESLong
by Yoyohoneysingh93
POV: MAHASEAMLES - DROP - BASE - RALLYPOV: MAHASEAMLES - DROP - BASE - RALLY Chart Reading: Background: On December 3rd, I entered this stock at a swing high breakout after observing the following parameters: 1. A Double Bottom pattern (A1 - A2) formed at the Fibonacci 0.618 level. 2. This was followed by a Double Top pattern (B1 - B2). 3. Momentum and trend aligned perfectly, indicating synchronization. This entry provided the expected move with unexpected speed, reaching Target 1. Today, I observed another significant pattern currently forming: DROP - BASE - RALLY. If the upcoming session gives a pullback before crossing the gap zone, it would present a strong setup to aim for the pattern target and Target 2. For educational purposes only. This is not financial advice. Please consult a professional before making financial decisions. #NiVYAMi
NSE:MAHSEAMLESLong
by kzatakia
Maharashtra Seamless Ltd view for Intraday 6th Dec #MAHSEAMLES Maharashtra Seamless Ltd view for Intraday 6th Dec #MAHSEAMLES Resistance 750. Watching above 752 for upside movement... Support area 730 Below 740 ignoring upside momentum for intraday Support 730 Watching below 728 for downside movement... Resistance area 750 Above 740 ignoring downside move for intraday Charts for Educational purposes only. Please follow strict stop loss and risk reward if you follow the level. Thanks, V Trade Point
NSE:MAHSEAMLESLong
by vichithra
MAHSEAMLES: Bullish Breakout with Strong Momentum!🚀 MAHSEAMLES: Bullish Breakout with Strong Momentum! 📈🔥 Why MAHSEAMLES Is a Must-Watch: MAHSEAMLES is showing strong bullish momentum, having just broken out to a new 52-week high. With multiple technical indicators supporting further upside, this stock is positioned for short-term breakouts, swing trades, BTST, and even next-day intraday opportunities. Here's why it deserves a spot on your radar: 🔥 Key Technicals: 52-Week Breakout: MAHSEAMLES is making new 6-month highs and trading with strong volume, indicating bullish strength. RSI Breakout: RSI at 78, showing the stock’s strength and momentum, with room for further upside. Stochastic at 84 & CCI at 306: Both indicators suggest strong bullish pressure, with plenty of potential for continued gains. MACD Bullish: A confirmed bullish crossover further supports the positive outlook. EMA 50, 100, and 200: EMA 200 crossover signals the beginning of a strong uptrend, while EMA 50 and EMA 100 indicate price trending up. The EMA 100 shows choppy markets, but the overall trend remains bullish. Donchian Band: Trending up nicely, with consecutive new highs signaling potential for more upside. Bollinger Bands: Positive breakout, supporting the ongoing bullish trend. Volume Breakout: The stock is experiencing a strong price rise, supported by rising volume—a key indicator of sustainability. 📅 Latest Signal: Above the Stomach and Bullish Kicker patterns on the Daily chart, signaling strong bullish continuation. 💥 Why It’s a Strong Pick: With bullish momentum, strong volume, and multiple breakouts across key indicators, MAHSEAMLES is poised for further gains. The stock is in a progressive zone, perfect for swing trades or potential BTST setups. 🚨 Take Action NOW: The breakout is underway, and MAHSEAMLES is trending upward. Set your alerts and get ready to capitalize on the next move! 👉 Add MAHSEAMLES to your watchlist and prepare for possible upside! 🔔 Set your alerts and take action before the breakout accelerates!
NSE:MAHSEAMLESLong
by ruelfernandes
MAHARASTRA SEAMLESS--ACCUMULATEThe company exhibits positive divergence with a low P/E of 9.2 and a dividend yield of 1.62, with an intrinsic value of 650. It is undertaking capital expenditures of approximately Rs. 852 Cr funded through internal accruals, allocated as follows: Narketpally (USTPL) at Rs. 264 Cr, Mangaon (MSL) at Rs. 195 Cr, and Nagothane (MSL) at Rs. 393 Cr. Additional working capital requirements are projected at Rs. 300 Cr for USTPL and Rs. 250 Cr for MSL, also to be financed from internal accruals. The company has prepaid its long-term loans for the Telangana plant and rig acquisitions in October 2022 and June 2023, achieving a zero-debt status. There are no inter-corporate deposits (ICDs) or corporate guarantees outstanding as of 31st March 2024. The promoters have been consistently increasing their stake over the past seven years. The company's total order book is approximately Rs. 1754 Crore, indicating the end of Wave 2 .
NSE:MAHSEAMLESLong
by tanrakesh47815
MAHARASHTRA SEAMLESS--accumulatelow PE, High book value and intrinsic value, . Market share 55% in seamless pipes segment -New generation offshore jack up rig operating at 98% efficiency on 3 year contract with ONGC -C capex of ~Rs. 852 Cr (through internal accruals), distributed in Narketpally (USTPL) ~Rs. 264 Cr, Mangaon (MSL) ~Rs. 195 Cr, Nago thane (MSL) ~Rs. 393 Cr. additional working capital requirement of Rs. 300 Cr in USTPL and Rs. 250 crores in MSL which would be funded from internal accruals Prepayment of Loans: Company has prepaid its long term loans taken for Telangana plant and rig acquisitions in October 2022 and June 2023 and is now a Zero debt company. Also, there are no ICDs or corporate guarantees outstanding as on 31st March 2024. In 5 min inverse head and shoulder pattern in progress once crosses neckline we would be in 3rd wave .
NSE:MAHSEAMLESLong
by tanrakesh47815
MAHARASTRA SEAMLESS--COMPULSIVE BUYlow PE, high book value with good div yield and good book value stock—Market Share a) ~55% in seamless pipes segment with manufacturing facilities at Nagothane & Mangaon and Narketpally . b) ~18% in API certified, high frequency ERW pipes with manufacturing facility at Nagothane . Zero debt company. Also, there are no ICDs or corporate guarantees outstanding as on 31st March 2024. Company is doing capex of ~Rs. 852 Cr (through internal accruals), — SHARE is a gold mine for investors. We are at strong base formation of 2nd wave longs and soon to breakout in 3rd wave.
NSE:MAHSEAMLESLong
by tanrakesh47815
Maharashtra Seamless - Ready for upmoveMaharashtra Seamless Ltd (NSE: MAHSEAMLES), part of the D. P. Jindal Group, is a leading manufacturer of seamless and ERW pipes in India, also diversifying into renewable energy and rig operations. The company has shown consistent financial performance, with strong profit growth of 26.3% CAGR over the last five years and a high ROCE of 22.9%. Despite a recent dip in sales and profits, MSL's debt-free status and robust product portfolio, including exports to major markets globally, make it a promising investment. With a CMP of ₹656, I am buying with a stop loss at ₹566 and a target of ₹1425. **Disclaimer:** This content is intended solely for informational purposes and does not constitute investment advice or a recommendation to buy or sell any securities. The views expressed are based on the my analysis and are subject to change without notice. Past performance is not indicative of future results. The author or their affiliates may hold positions in the securities discussed. Investors are advised to consult their financial advisors before making any investment decisions. Trading and investing in stocks or any other financial instruments involve risks, including the loss of principal. I am not responsible for any loss or damage resulting from the use of this information.
NSE:MAHSEAMLESLong
by profitoptionnew
Maharashtra Seamless - Can we identify the Bottom?Established in 1988, Maharashtra Seamless Ltd specializes in the production of seamless pipes and tubes, as well as ERW pipes. The company is also engaged in renewable energy generation and rig operations. Over the past five years, it has achieved a commendable profit growth rate of 26.3% CAGR and maintains a positive free cash flow. The stock's price-to-earnings (PE) ratio stands at 10, significantly lower than the industry average PE of 27.5. In terms of technical analysis, particularly through the lens of Elliott Wave theory, it appears that the stock has completed its 4th wave. For a detailed explanation on Elliot waves basics, please refer to the following link: www.investopedia.com Upon reviewing the fourth wave position depicted in the provided link, it seems that Maharashtra Seamless is currently situated in that phase. The conclusion is drawn from the following clues related to the general rules of wave 4 & technical analysis: 1) Typically, wave 4 retraces wave 2 by 23% to 38%. In some instances, it may extend to 50% or even 61.8%. This extension occurs when wave 2 experiences a shallow retracement (less than 50% of wave 1) or when the minor wave 5 in the preceding impulse is extended (exceeding 100% of the length of waves 1-3). In this case, the second scenario applies, as wave 4 has retraced to the 50% level. 2)Also we can see a well defined ABC patter till wave 4 end which respects the general guidelines for Elliot wave. The wave A and wave C are almost equal 3)Major corrections often provide indications through price action or candlestick patterns. In this instance, a morning star formation is observed at the 50% Fibonacci level on the weekly timeframe, suggesting a potential reversal from these levels. The wave counts, stop loss, and target levels are illustrated on the accompanying chart. DISCLAIMER: It is important to note that the information provided in this analysis is intended solely for educational purposes. It is strongly advised to consult with a financial advisor prior to making any investment decisions. I cannot be held responsible for any financial losses that may occur.
NSE:MAHSEAMLESLong
by harshit22
MAHARASTR SEAMLESS-- ACCUMULATEPOSITIVE DIVERGENCE near to major support zone . down 5 ending . The stock is trading at price to earnings (PE) ratio of 8.82. This is 30 % lower than its 5 year-average of 12x.High Book value of Rs500.ROCE 22.9 % Company is almost Debt free . Profit growth of 26.3 % CARG over last % years. enjoys a 55% market share in the seamless pipes segment serving a wide variety of industries from agriculture and chemicals to engineering and oil and gas and renewable power generation .
NSE:MAHSEAMLESLong
by tanrakesh47815
SWING IDEA - MAHARASHTRA SEAMLESSMaharashtra Seamless , a leading manufacturer of seamless pipes in India, is showing technical patterns that suggest a potential swing trading opportunity. Reasons are listed below : Support at 800 Level : The 800 level has proven to be a strong support zone, indicating significant buying interest at this price point. 0.382 Fibonacci Level Support : The price has found support at the 0.382 Fibonacci retracement level, suggesting a potential reversal or continuation of the uptrend from this key level. 50 EMA on Weekly Timeframe : The stock is trading around the 50-week exponential moving average, which acts as a support level and indicates a long-term uptrend. Bullish Marubozu Candle on Daily Timeframe : The recent daily candle is a bullish marubozu, characterized by a lack of shadows, indicating strong buying pressure and potential for further upward movement. 200 EMA Support on Daily Timeframe : The stock is also finding support at the 200-day exponential moving average, which reinforces the overall bullish sentiment and provides additional support for the uptrend. Target - 965 // 1095 Stoploss - weekly close below 735 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:MAHSEAMLESLong
by Visionary_Growth_Insights
Maharashtra Seamless LimitedThe co. has a market share of 55% in the seamless pipes segment and a market share of 18% in the API-certified, high-frequency ERW pipes segment. Revenue as FY22 Steel Pipes and Tubes: 95% Clientele Some esteemed clients of the Co include Indian Oil Corporation Ltd, BHEL, Reliance Industries Ltd, ISGEC, NTPC, Larsen & Toubro, and more, and Infrastructure clients are Adani, DLF, GAAR, IGL, Unitech etc. On installation of finishing facilities at Telangana in FY24, existing capacity of 100,000 MTPA will be activated (seamless pipes segment)
NSE:MAHSEAMLESLong
by EQUITYBROKER