A small-cap swing trading stock with explosive potential to watch tomorrow!
It is no wonder that the total global addressable market of the company was USD 1.2 billion as of FY 22 and is expected to grow at a CAGR of 9 per cent to USD 2.4 billion by FY 2030.
Shivalik Bimetal Controls Limited (SBCL) is a name that is synonymous with precision engineering and is a dominant player in the niche bimetal segment. The company has a strong global presence and is preferred by many OEMs worldwide for the past 30 years. With no significant domestic competition in India, SBCL has established itself as a preferred global vendor, competing with established giants across the globe, primarily from the USA and Europe.
One of the most intriguing things about SBCL is its long experience of operating in the area of precision engineering. This has enabled the company to develop shunt resistors that are qualitatively better than those of its competitors, and across a more diverse product range. It is no wonder that the total global addressable market of the company was USD 1.2 billion as of FY 22 and is expected to grow at a CAGR of 9 per cent to USD 2.4 billion by FY 2030.
Recently, SBCL's stock opened at a level of Rs 423, and the opening level of the day turned out to be the lowest point of the day. At the end of the day, the stock closed up by 15 per cent at Rs 480.15, resulting in the formation of a bullish opening Marubozu candle. This suggests that the stock is in a clear uptrend and has positive momentum.
Moreover, the stock is trading above its key moving averages like 20, 50, and 200-DMA. At the same time, the daily RSI has moved above the 60 mark and is in a rising trajectory, validating a positive bias. The daily MACD is pointing northward while sustaining above its nine periods average, thus validating a positive bias in the stock.
Apart from the technical structure, one noteworthy point is that the company will be doing/scheduling one-on-one meetings with institutional investors between March 23 to 28, 2023. This presents an opportunity for the company to showcase its strengths to potential investors.
Currently, the company is trading about 5 per cent away from its 52-week high, and its market cap stands at Rs 2771 crore, falling under the Small-Cap stock category. This makes SBCL a stock to keep on the radar for Thursday!
In conclusion, SBCL is a company with a strong global presence, established reputation, and is a preferred vendor to many OEMs worldwide. With a clear uptrend in its stock, positive technical indicators, and an upcoming opportunity to showcase its strengths to potential investors, SBCL is certainly a company worth watching in the coming days.