Mukul Agrawal Portfolio Stock Hits 52W-High: Here’s A Valuable Indicator For Buy-Sell Decision Making

Small cap firm Capacite Infraprojects is in the construction industry. A construction company titled Capacit'e Infraprojects Limited provides engineering, procurement, and construction (EPC) services. Due to a spike in volume, the shares, which began today at Rs 263.95 apiece, reached a new 52-week high of Rs 270.30 during the early trade. The stock climbed 68% year to date (YTD) so far in 2023, however, Mr. Aditya Gaggar, Director of Progressive Shares, believes there is still room for a further rise in the stock over the next nine to twelve months.

Mr Aditya Gaggar, Director of Progressive Shares has recommended to buy Capacite Infraprojects at a current market price of Rs262, for a target price- Rs341-Rs421.

"We recommend a BUY on the company at current market price of Rs262 or decline upto Rs247 with a closing stop loss of Rs185 for a target of Rs341-Rs421 with a horizon of 9-12 months," said the analyst.

Commenting on the investment rationale, the analyst said the stock's 4 years of consolidation came to an end with an Ascending Triangle Formation Breakout, leading momentum indicator RSI has given a trendline breakout, positive crossover was witnessed in the MACD while a reading of 31 in ADX indicates the presence of a strong uptrend and an upsurge in Volume suggests a strong market participation.

The stock has gone up 72.56% over the last year, and so far in 2023, it has climbed 67.00% YTD.

The company reported net sales of Rs 418.05 crore in the September 2023 quarter down 3.09% from Rs. 431.37 crore in the September 2022 quarter. It had a 14.01% drop in net profit from Rs. 21.87 crore in Q2FY23 to Rs. 18.81 crore in Q2FY24. EBITDA plummeted 9.36% from Rs. 84.43 crore in the same quarter last year to Rs. 76.53 crore in the quarter under review.

During the July to September quarter, ace investor Mukul Agrawal held 58,88,000 shares or 8% fully paid-up equity stake in Capacite Infraprojects.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.