This smallcap multibagger home electronics stock hits all-time high: Check if you own it
On spurt in trading volume and news flow that Amber Enterprises is mulling demerger of its Electronics business, the stock climbed to a new all-time high price today.
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Shares of Amber Enterprises India scaled their fresh all-time high price of Rs 7,498.95 in Tuesday's (December 24, 2024) session. The stock is witnessing heavy demand and In the last four sessions it has gained as much as 25 per cent.
Last at around 1:05 pm, the stock traded higher by over 7 per cent or Rs 513.9 at Rs 7,405 per share on the BSE.
The gains in the stock got a boost amid reports that the company is planning to demerge its Electronics business. Further, news report also suggest that once Amber Enterprises is through with the demerger process it will also come up with the IPO for its Electronics business segment.
The consensus recommendation from 20 analysts for Amber Enterprises India is 'buy' with 11 of them signalling 'strong buy' on the counter.
Technically, the stock is trading above its 50-day, 100-day, 150-day and 200-day Simple Moving Averages or SMA.
The company is an original equipment manufacturer (OEM) offering products including air conditioners, microwave ovens, refrigerators, washing machines, heat exchangers, multi flow condensers, luminaries, vacuum forming components etc.
Amber Enterprises Q2 results
Amber Enterprises India's net profit for the September quarter of the fiscal year 2024-2025 stood at Rs 19.25 crore as against net loss of Rs 6.95 crore in the same quarter last year. Sales rose 81.73 per cent to Rs 1684.70 crore in the quarter ended September 2024 as against Rs 927.06 crore during the previous quarter ended September 2023.
Amber Enterprises share price performance
On a year to date (YTD) basis, the stock has galloped over 135 per cent, while its 1-year return is at 142 per cent.
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