Sundaram Finance Holdings Ltd is listed only on NSE (SUNDARMHLD) and is a holding company. The company is involved in making investments, primarily in automotive companies. Significant investment includes Sundaram Clayton, Wheels India, IMPAL, Brakes India, Turbo Energy, Axles India – most of them leaders in their respective markets. Through its 100% subsidiary, Sundaram Business Services Limited and its own operations, SF Holdings also provides outsourced business processing and support services.
The company derives majority of its income from divivdends. Past three quarters have been good for the business.
Technically After the Q2 results were declared on Nov 02 2023 the stock price moved up and hit a 52 week high of 174.4 on 16 Nov 2023, since then the stock price has consolidated and recently formed a flag pattern. If the flag pattern works out, the length of the flag pole is 55 rs so the target could be 230 rs (175+55)
On a larger time frame the stock was de-merged and listed on NSE back in March end 2018 and the price settled around 170 to 160 levels in mid April. The stock has formed a rounding bottom. Larger time frame targets could be more than 230, if the pattern works out.
Disclosure : Invested. (not a recommendation, anyone contemplating investing needs to do their own diligence).
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