Chart Idea – Power Mech Projects Ltd.
Power Mech Projects Limited is one among the leading infrastructure-construction Companies based in Hyderabad, India with a global presence and highly credited for providing a spectrum of services in the power and infrastructure sectors. As the Company today stands remarkably taller amongst contemporary players in the field with 15,000 direct and 25,000 indirect workforces and a huge fleet of cranes and machines, it is capable of handling and executing over 4,00,000 MT annually while operating up to 55 sites simultaneously.
Looking at the Fundamental side, Promoter has increased their shareholding, with Growth in Net Profit and increasing Profit margin on (QoQ) basis. The company has a low debt with zero Promoter Pledge. Currently stock is trading with low PE this can be the best opportunity for value buying.
On the Technical front, RSI is indicating price strength and the price is above short, medium, and long-term moving averages.
Trade Recommendation on Power Mach Projects
Stock is currently in the accumulation zone, traders are advised to do buying around 690–695 levels for the upside targets of 840 and then to 950++ levels.
Keep Stop loss below 500 levels on a closing basis.
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