Symphony had a massive rally from levels of 100 in 2012 to 2200 in 2018, a 22 bagger in 6 years. It then went into a corrective mode and made strong base between 800-850 ( with the panic Covid low of 690) q4 fy 23 and q1 fy 24 results were poor. q4 fy 24 numbers already reported have been good. In view of the extremely hot summer, q1 fy 25 results also likely to be good. Management commentary has been good. Subsidiary performance (barring Climate technologies Australia) has been good.
Attached chart shows a rectangular consolidation going on between 826 and 1216. If stock price manages to break out above 1216, technical target can be 1600 plus.
disc: bought as a tactical play on quarterly results . (not a recommendation. please do your own diligence if investment is contemplated. Presentation, concalls etc resources easily available)
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