fundamental analysis to invest in companies based on their financials. The second believes in making short-term trades based on seasonal momentum or technical analysis. Irrespective of which type of investor you are, a multiyear breakout of any stock is something to keep an eye on as it could be a sign of significant potential in the security.
A stock breaching the three-figure mark for the first time, for instance, represents a massive breakout. Today, we bring you a stock that recently broke out of its multi-year resistance level of ₹1,000 and could make for a good addition to your watchlist. The largest manufacturer of cam-operated rotary switches & wire ducts in India, Salzer Electronics Limited provides customised electrical solutions in the switchgears, wires & cables, and energy management sectors.
It has six manufacturing units in Tamil Nadu and a wide distribution network, both in India and abroad. It exports to more than 50 countries through 40 international distributors. In the first quarter of FY25 Salzer Electronics saw its revenue increase by 24% to ₹360 crore from ₹290 crore in the corresponding period last year.
This growth was mainly driven by the industrial switchgear and wires & cables businesses, which enjoyed relatively better market conditions. The industrial switchgear division contributed 52% of total revenue, growing 26% year-on-year with an operating margin of nearly 13%. The wire & cable business accounted for 43% of revenue, up 31% year-on-year with an operating margin of 5%.
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