IT stock jumps 5% after board approves increase in buyback price
Stocktwits - SEBI-registered analyst Gunjan Kumar believes that strong fundamentals combined with favorable technical indicators place Bharat Wire Ropes and Control Print on the cusp of a potential breakout.
Bharat Wire Ropes
Kumar noted that on the technical charts, Bharat Wire Ropes has broken out of a trend line and recorded its highest single-day trading volume since July 2023.
This signals fresh interest from market participants.
The analyst believes that the stock is a good bet above ₹226, and has a strong support base around ₹189 on a closing basis.
At the time of writing the stock was up 9.6% at ₹241.2. It has gained 15.3% year-to-date (YTD).
Fundamentally, Bharat Wire Ropes is optimistic about achieving more than 10% volume growth in the coming year, driven by a rising demand environment and increased government infrastructure spending.
He said that despite recent pressure on profits, the growth outlook highlights resilience in core operations. Crucially, promoters have been increasing their stake in the past three quarters.
The stock appears undervalued based on its price-to-earnings (P/E) ratio, Kumar said.
The company recently reported its highest revenue in the last 13 quarters and delivered the strongest year-on-year sales growth in seven quarters.
Control Print
Gunjan Kumar said that from a technical perspective, the stock has broken a key resistance level and is showing positive momentum.
He added that it looks promising above ₹810, with a strong support level at ₹724 on a closing basis.
At the time of writing, shares were up marginally at ₹812. The stock has gained 10% YTD.
Control Print, a specialist in coding and marking solutions, is attracting investor interest as foreign institutional investors (FIIs) and domestic institutional investors (DIIs) have both increased their stakes in the previous quarter — a strong vote of confidence in the company’s outlook.
With a clear growth strategy, Control Print is targeting ₹450 crore in revenue by 2026, aiming for a robust 18% annual growth rate.
The company is also pivoting toward larger packaging clients, which could improve profitability. In response to recent profit dips, cost-cutting measures are being implemented to boost margins.
Kumar believes that fundamentally, Control Print is on solid ground — it reported both its highest revenue and profit in the last 13 quarters.
He added that despite being nearly debt-free, the stock is undervalued and has a return on capital employed (ROCE) above 25%.