Monte Carlo Fashions Ltd up by 8.70% - Traders Corners| Espresso

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Espresso Shot of the Day - Monte Carlo Fashions Ltd up by 8.70 percent

July 08, 2022
Espresso Shot of the Day - Monte Carlo Fashions Ltd up by 8.70 percent

MONTE CARLO FASHIONS LTD 789.45  (+8.70%) BSE – INE950M01013 | 8th  July 2022

https://www.myespresso.com/images/Binge-graph-image_Monte-Carlo-Fashions-Ltd-202207082046429412112.jpg

Monte Carlo Fashions Ltd is a dedicated fashion apparel brand manufacturing and retailing of apparels for men, women and tweens. Oswal Woolen Mills Ltd, the flagship company of Nahar group began its operations in 1949 in Ludhiana. Initial focus was on hosiery and textile fabrics, in 1972 it set up its wool combing unit sensing the huge business opportunity in the domestic readymade knitwear. Despite their expertise in hosiery and woolens, it was only in 1984 that Monte Carlo was launched as a brand, which was a significant step in the evolution of branded garment industry in India. Since then, it has been catering to the ever-growing demands of the Clothing and Fashion industry in India.

Being the market leader and enjoying wide spread recognition in the woolen segment, the flagship Company, OWM in order to make Monte Carlo an all season brand and to capitalize on the brand name, entered the cotton segments.


Recent Drivers

  • On July 8th 2022, Monte Carlo recorded its best ever sales for the First Quarter in the history of the company.
  • The government had in the first edition of the textiles PLI scheme approved 61 applications of companies including Monte Carlo with an investment potential of over ?19000 crores.
  • On June 2nd 2022, the Company reported a quarterly Net Profit at Rs.12.85 crores in March 2022, up 424.84% from Rs.3.96 crores in March 2021.
  • On June 2nd 2022, the Company reported Net Sales at Rs 162.47 crores in March 2022, up 49.38% from Rs.108.76 crores in March 2021
  • For the year ending March 2022, Monte Carlo Fashions declared an equity dividend of 200% amounting to Rs.20 per share on May 25th
(Sources: BSE, Money control, Economics Times,livemint)        


Technical Force*

  • S&P BSE smallCap month till date gain by 3.45
  • 3 months avg. NSE volume:1,49,081
  • Quantity traded: 43,875 | Deliverable quantity: 21,841 (49.78 %)
  • Stock price jumped by 150 % from a one-year low level: 310.10 (Aug 23, 2021)
  • Daily RSI (14) is near overbought territory today
  • 52-week-high: 799.90| 52-week-low: 310.10


Key Pivot (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

1209.98

931.02

766.63

487.67

328.28

44.32

-

-

Fibonacci Pivot

931.02

761.66

657.03

589.64

487.67

385.70

318.31

213.68

44.32


Today’s Close

789.45

SMA

BSE

10 DAY

713.36

20 DAY

648.38

50 DAY

581.01

200 DAY

538.87


Some Key Ratios (Source: BSE)

Market Cap:  1,636.69 Crores

PE:  14.35

OPM%: 18.85

ROE%:  16.59

Promoters holding%: 73.17

Prev. Close:  726.25



https://www.myespresso.com/images/espresso_shot_blog_credit_image%20WD-202206271809546799546.jpg

*Chart and Technical Force data from the Binge desktop app
The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Sharekhan Comtrade bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Sharekhan Comrade Private Limited is under no obligation to update the information in this document from time-to-time.

Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.