Shares of Atul Auto hit a fresh 52-week high today amid a rally in the broader market. Strong sales in March led to a rise in the stock of the three wheeler maker in the last four sessions. It has zoomed 29.49% percent in last four sessions. Atul Auto logged a 114.56 percent rise in March sales to 3,154 units on April 1 from 1,470 units in the year-ago period. For the fiscal 2022-23, sales climbed 59 percent to 25,549 vehicles from 16,061 units in the previous year.
In the current session, Atul Auto stock gained 9.49% to Rs 405 against the previous close of Rs 369.90 on BSE. It has gained 29.49% in the last four sessions. The stock opened marginally higher at Rs 371.55 today against the previous close of Rs 369.90 on BSE.
The stock has climbed 124.89% in one year and gained 40% since the beginning of this year. The share has climbed 9.23% in a month. Total 2.64 lakh shares of the firm changed hands amounting to a turnover of Rs 10.31 crore on BSE. Market cap of the firm stood at Rs 886.83 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Atul Auto stock stands at 61.8, signaling it’s neither overbought nor oversold. Atul Auto shares have a beta of 1.4, indicating very high volatility in a year. Atul Auto shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Abhijeet fromTips2trades said, “Excellent sales in March followed by a bounce back in the major indices has led to a good rally in Atul Auto stock. A daily close above resistance of Rs 398 could lead to a target of Rs 454 in the near term. Support will be at Rs 362.”
Atul Auto logged a 143% rise in Q3 profit to Rs 3.85 crore against Rs 8.81 crore loss in the corresponding quarter of the previous fiscal. Sales climbed 29.43% to Rs 133.11 crore in Q3 of the last fiscal against Rs 102.84 crore sales in the December quarter of 2021.
EBITDA surged a stellar 29.43% to Rs 133.11 crore in the December quarter against Rs 5.86 crore (negative) in the December 2021 quarter.
Atul Auto Limited is engaged in the manufacturing and selling of three-wheeler automobiles and sale of spare parts of three wheeler automobiles. It offers after sales support to the customers through dealership network.
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