Are the volumes painting a picture in INDIGOPNTS ?

24 oct. 2024

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.

24 oct. 2024

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.