Share Market Updates: Up to 4%! Which stocks have massive returns? – this stock has risen 4% in the market, see the news in detail

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Share Market Updates: Up to 4%! Which stocks have massive returns? – this stock has risen 4% in the market, see the news in detail

Indian indices fell slightly on Wednesday amid weaker global trends. But lately, every downtrend in the mid and small cap segments has been viewed as a buying opportunity, outperforming the broader index over time. Shares of Galaxy Surfactants traded well in Wednesday’s trading session and rose more than 4%. As a result, the price action moved above the average volume. Which is higher than the 10-day and 30-day average volume. The stock has reached a high and a low on the technical chart, which is a positive sign.

The technical parameters as well as the positive price structure are also indicative of the strength of the stocks. The 14-day RSI (70.53) has entered super bullish territory and signals the strength of the stock. MACD showed a bullish crossover. OBV is in an uptrend.

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The stock has jumped over 17% in the last 3 months and has outperformed the broader market. We can expect a similar trend from this stock in the short to medium term.

Incidentally, the company reported total revenue of Rs 1,156.90 crore in FY23, a growth of 39.20%. Revenue increased 9.7% sequentially.
The company’s EBITDA for the first quarter of FY23 was Rs 146 crore, a growth of 29.20%.

Galaxy Surfactants achieved the highest quarterly PAT on record at Rs100.40 crore, up 30.70% year-on-year and up 2% sequentially in fiscal 1FY23.
The company’s total volume stood at 55,272 MT for Q1FY23, down 7.7% YoY and 3.9% QoQ.

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However, maintaining the balance between production and demand was the company’s main task. This is why the company has looked into the matter. That’s why he managed to get the highest profit this quarter.

After the earnings announcement, Galaxy Surfactants gained 3.08% to Rs 3,248.65 apiece against its previous close of Rs 3,151.45 on BSE. The certificate opened at Rs 3,171.05 and touched an intraday high and low of Rs 3,310 and Rs 3,169 respectively.

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