Stock trend: an increase of about 8% in one day! Does this stock line the pockets of investors? – the stock price rose about 8% in one day
The stock looks pretty solid on technical metrics. The daily 14-period RSI (72.83) is in a super bullish zone and indicates the strength of the stock. MACD also indicated a bullish cross and OBV also indicated a good buy.
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The title has almost doubled since the beginning of the year. Overall, the stock looks bullish and investors can keep an eye on the stock.
Incidentally, the report published last August showed that RHI Magnesita made significant gains in the first half of 2022 in terms of volume, market share and share price. RHI Magnesita met expectations with an EBITA of 188 million euros.
The company’s revenue rose 33% to 1,594 million euros despite recent headwinds. While global steel production decreased by 5% in volume, RHI Magnesita’s steel business increased by 4% in volume.
Last June, RHI Magnesita exceeded its 2025 target and managed to maintain a recycling rate above 10%. The company was able to complete the processing of every ton of recyclable raw material. While the processing of raw materials would have produced around 2 tons of CO2 if it had been used otherwise. In fact, the fastest and easiest way to reduce CO2 emissions is to process recycled raw materials.
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The company’s €50 million R&D project is also progressing as planned. RHI Magnesita has launched 9 pilot projects.
The company’s progress in new markets is significant. And for India and China, this growth rate is 41% and 32% respectively. RHI Magnesita’s €46 million investment in Austria was completed in the first half of 2022.
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