Shares of Alkyl Amines Chemical have given more than 7500% returns in ten years.
The company’s products include aliphatic amines, amine derivatives and fine chemicals. It has an EPS of 44.74 on TTM basis and the stock is currently trading at a PE of 55.23. As per the latest shareholding pattern of the company, promoters hold 71.99 per cent while the remaining 28.01 per cent is held by public shareholders. Among its public shareholders, mutual funds hold 0.57 per cent, foreign investors hold 2.79 per cent and retail investors hold 18.49 per cent. In the March quarter, the company’s revenue declined by three percent to Rs 412 crore, while profit stood at Rs 48.6 crore.
What should investors do?
Technical analysts say that the stock is currently showing lower low formation which is a sign of downside. The stock is currently trading below all its important moving averages on the daily chart. Ratnesh Goyal, Senior Technical Analyst, Arihant Capital said that the stock has consistently underperformed relative to the overall market performance. There are no signs of an uptick in this in the near future. He said that investors should refrain from buying in it.