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Igarashi Motors can Rise by 20% in the Short-Term

Published 10-11-2022, 11:51 am
Updated 09-07-2023, 04:02 pm
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Stock with a short-term 20% upside potential

Igarashi Motors India Ltd (BO:IGAM) BSE last traded price increased 6.5% from the previous close to Rs 426.5. IGARASHI MOTORS' latest trading price on the NSE fell 2.3% to Rs 424.2.
 
The S&P BSE CAPITAL GOODS Index as a whole fell by 1.4%. The benchmark S&P BSE SENSEX stood at 60,601.0 (down 1.0%), as well.
 
The share price of IGARASHI MOTORS has decreased by 3.6% over the previous 30 days and has decreased by 22.4% during the past year. It now has a market value of Rs 13,422.51 m.
 
Igarashi Motors India Ltd produces and exports permanent magnet DC motors for the automotive industry, primarily for the passenger vehicle market. In 1992, it was established as CG Igarashi Motors Limited as a joint venture (JV) between Crompton Greaves (NS:CGPO) Ltd (India), Igarashi Electric Works Ltd (Japan), and International Components Corporation (USA). Over time, IEWL increased its ownership in the company by acquiring a portion of the former JV Partners.
 
We observed a spike in volumes during the last trading session, and the stock increased 8% with a volume of 4 lk. The stock can rise 15 to 20% from its present levels in the short term if there is good support at the 410 level.
 

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