A company is said to be ‘fundamentally strong’ after it portrays a specific set of characteristics, viz, strong and consistent financials, lower leverage ratios, and many more.
Listed below are three such fundamentally strong stocks in which the company’s Promoters increased their stake in the quarter ended December 2023:
Anupam Rasayan India Limited
With a market capitalization of Rs 10,030.33 crores, the stocks of Anupam Rasayan India Limited, engaged in the manufacturing of specialty chemicals, are currently trading at Rs 914.15, gaining approximately 0.70 percent as compared to the previous closing levels of Rs 908.15 apiece.
During the recent financial years, the company’s financial reports showcase positive movements as far as the operating revenues and after-tax profits are concerned. The former rose from Rs 1,074 crores during FY21-22 to Rs 1,602 crores during FY22-23, and the latter, keeping the timeframe the same, shifted from Rs 152 crores to Rs 217 crores.
During the December 2023 quarter, the company’s Promoters increased their pledge for the first time from a ‘nil’ rate during Q2FY24 to 9.29 percent.
Archean Chemical Industries Limited
With a market capitalization of Rs 7,724.65 crores, the stocks of Archean Chemical Industries Limited, the leading specialty marine chemical manufacturer in India, are currently trading at Rs 626, gaining approximately 0.60 percent as compared to the previous closing levels of Rs 622.10 apiece.
During the recent financial years, the company’s financial reports showcase positive movements as far as the operating revenues and after-tax profits are concerned. The former rose from Rs 1,130 crores during FY21-22 to Rs 1,441 crores during FY22-23, and the latter, keeping the timeframe the same, shifted from Rs 189 crores to Rs 384 crores.
During the December 2023 quarter, the company’s Promoters increased their pledge for the first time from a ‘nil’ rate during Q2FY24 to 4.55 percent.
Gujarat Themis Biosyn Limited
With a market capitalization of Rs 2,541.07 crores, the stocks of Inox Green Energy Services Limited, engaged in manufacturing and selling finished Active Pharmaceutical Ingredients products (APIs), are currently trading at Rs 350, slipping approximately 0.30 percent as compared to the previous closing levels of Rs 350.75 apiece.
During the recent financial years, the company’s financial reports showcase positive movements as far as the operating revenues and after-tax profits are concerned. The former rose from Rs 115 crores during FY21-22 to Rs 149 crores during FY22-23, and the latter, keeping the timeframe the same, shifted from Rs 44 crores to Rs 58 crores.
During the December 2023 quarter, the company’s Promoters increased their pledge for the first time from a ‘nil’ rate during Q2FY24 to 3.3 percent.
Written by Amit Madnani
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