PTC Industries share price: On technical setup, support on the counter could be seen at Rs 3,130, followed by Rs 3,040 PTC Industries share price: On technical setup, support on the counter could be seen at Rs 3,130, followed by Rs 3,040 PTC Industries share price: On technical setup, support on the counter could be seen at Rs 3,130, followed by Rs 3,040 Shares of high-precision metal components maker PTC Industries rose sharply on Monday, extending their gains for the eighth straight session. The stock today zoomed 20 per cent to hit the 52-week high of Rs 3,672.80. The scrip has gained 49.94 per cent in eight days. The company got listed at NSE last Friday. Prior to this, the stock was available for trading at BSE only. As part of its efforts to enhance the liquidity and availability of its shares, PTC Industries decided to list on NSE. The company successfully listed its entire equity share capital of 1,33,82,257 shares, each with a face value of Rs 10, on the NSE following approval from the exchange.
On the earnings front, PTC Industries reported a profit after tax (PAT) of Rs 25.82 crore in FY23 (2022-23), a 102 per cent growth year-on-year (YoY), compared with Rs 12.81 crore in the previous financial year (FY22).
Total income for the period was at Rs 226.73 crore compared with Rs 185.23 crore in FY22, registering a strong growth of 22 per cent. The company's Ebitda (earnings before interest, tax, depreciation and amortisation) for FY23 was at Rs 66.11 crore against Rs 48.38 crore in FY22, a growth of 37 per cent. Ebitda margin for FY23 was 29.2 per cent.
On technical setup, support on the counter could be seen at Rs 3,130, followed by Rs 3,040.
"PTC Industries is bullish with next resistance at Rs 3818 on the daily charts. A daily close below the support of Rs 3,130 could be used to exit buy positions. Below Rs 3,130, the next support will be at Rs 3040," said AR Ramachandran from Tips2trades.
The stock traded higher than the 5-day, 20-, 50-, 100- and 200-day moving averages. The counter's 14-day relative strength index (RSI) came at 94.23. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 203.73. It has a price-to-book (P/B) value of 22.29.
The stock has a one-year beta of 0.42, indicating low volatility.
PTC Industries is a supplier of high-precision metal components for critical and super-critical operations across a wide range of segments including Aerospace, Defence, and Industrial. The company has invested in well-integrated manufacturing units with facilities in Uttar Pradesh and Gujarat. Recently, PTC's wholly-owned subsidiary, Aerolloy Technologies' new Aerospace and Defence facility was inaugurated.
The company is expanding its capabilities to manufacture aerospace components and strategic materials including Titanium, Cobalt, and Nickle Superalloys for defence and aerospace applications indigenously.
Meanwhile, Indian equity benchmarks traded higher today, led by gains in technology, metals, state-owned lenders and energy stocks.