*Jindal Drilling & Industries Ltd.*
Inverse H&S/C&H Pattern: Monthly Basis
MultiYear Price Trendline Breakout Frequency Increasing.
Strong Vol. Consolidation & BreakOut
*With Price Up, Trail Stop Loss*
*Book Profit as per Risk Appetite*
*Fundamentally Strong Co*
Part of Dharam Pal Jindal Group. Leading Indian company in offshore drilling / allied services (incl. Directional drilling/Mud logging). To be benefited by improvement in Rig charter rates (~$25K/day on FY19 to $42K/day now). All 5 rigs owned/leased are contracted as on date.
Re-deployment risk of the rigs is expected to be low
Increasing Sales/Profitability on Yrly/Qtrly Basis.
Sharp Improvement in RoA/RoE/RoCE for FY22 vs. FY21.
Improving Leverage/TNW/Increasing Cash Reserve.
Higher +ve Ops. Cash Flow/WC Cycle.
Promoter Stake Stable. FII down.
*Concern:*
susceptibility of charter rates (at time of signing of contracts) to crude oil prices, being inherently volatile. Litigation with ONCG (under SC) of Rs.160 Crs.
High exposure to group entities leads to subdued RoCE
*Do Your Own Research as Well. This is Just an Opinion.*
Your Opinion may Differ/Respected.
Happy Investing :)
Inverse H&S/C&H Pattern: Monthly Basis
MultiYear Price Trendline Breakout Frequency Increasing.
Strong Vol. Consolidation & BreakOut
*With Price Up, Trail Stop Loss*
*Book Profit as per Risk Appetite*
*Fundamentally Strong Co*
Part of Dharam Pal Jindal Group. Leading Indian company in offshore drilling / allied services (incl. Directional drilling/Mud logging). To be benefited by improvement in Rig charter rates (~$25K/day on FY19 to $42K/day now). All 5 rigs owned/leased are contracted as on date.
Re-deployment risk of the rigs is expected to be low
Increasing Sales/Profitability on Yrly/Qtrly Basis.
Sharp Improvement in RoA/RoE/RoCE for FY22 vs. FY21.
Improving Leverage/TNW/Increasing Cash Reserve.
Higher +ve Ops. Cash Flow/WC Cycle.
Promoter Stake Stable. FII down.
*Concern:*
susceptibility of charter rates (at time of signing of contracts) to crude oil prices, being inherently volatile. Litigation with ONCG (under SC) of Rs.160 Crs.
High exposure to group entities leads to subdued RoCE
*Do Your Own Research as Well. This is Just an Opinion.*
Your Opinion may Differ/Respected.
Happy Investing :)