WHY DURING 2023 RHI MAGNESITA INDIA LIMITED SHARE PRICE PERFORMED SO BADLY BUT ITS PEERS GIVING EXCELLENT RESULTS.:-DATA SHOWN AS PER MONEY CONTROL

 

Refractories JAN 10 2024 IST 11.16 A.M.

Company Name Last Price % Change 52 wk High 52 wk Low Market Cap (Rs. cr)

RHI Magnesita     777.75        -0.21 892            893               576                       16,072.01

Vesuvius India   3,521.10    -1.46          3,955.00       1,500.00                    7,136.00

IFGL Refractory       761.3            -3.89            935.5           196.95                2,742.59

Morganite India    1,615.00     0.81          1,778.90            832.6                   903.84

ORIENT CERATECH 58.84       2.89            64            21.75                    696.9

1.RHIM DID A LOT OF AQUISITIONS IN LAST TWO YEARS AND HAD TO ABSORB LOSSES DUE TO WRITE OFF SPECIALLY AFTER TAKING OVER OF BHARAT DALMIA REFRACTORIES BUSINEES BY SWAPPING OF SHARES.THAT HAD BEEN THE REASON OF NEGATIVE FINANCIALS IN INITIAL QTRS AFTER SUCH AQUISITION.

2.INSITUTIONAL INVESTORS SEEMS TO BE PLAYING WITH SHARE PRICE ON DAILY BASIS AND HAVE MADE IT A PUPPET IN THEIR HANDS AS SHARE PRICE OBSERVES DAILY BASIS PRICE FLUCTUATIONS SERVICING THE PURPOSE OF DAILY PROFITS FOR INTRA DAY GAINS BUT DETRIMENTAL TO THE INTEREST OF LONG TERM RETAIL INVESTORS.SEEMS IT HAS BECOME A JOKE AS SUCH A FLUCTION IS HAPPENING EVEN WITH SMALL VOLUMES .IT IS TARNISHING THE IMAGE OF SUCH A REPUTED MULTINATIONAL COMPANY.

3.ITS PEERS LIKE VESUVIUS AND IFGL HAVE GIVEN MULTIFOLD RETURNS IN THE YEAR 2023.

4.LET US HOPE RHI MAGNESITA INDIA LIMITED ALSO BE ABLE TO BREAK ITS 52 WEEK'S HIGH OF 893 BY GOOD FINANCIAL PERFORMANCE IN QTRS TO COME.

Contributed by H.Saraf