IFCI - Multiyear Breakout - Monthly

anteayerIFCI - Multiyear Breakout - Monthly

Multi-Year Breakout: The chart indicates a multi-year breakout with strong volume, suggesting a potential long-term uptrend.
16yrs high Breakout: Neckline marking a 16yrs breakout, which could be a shorter-term confirmation of the trend.
Support Level: The low of the breakout candle is marked as a support level at 59, which can be a critical point to watch for potential pullbacks.

This setup looks promising for those interested in technical analysis and long-term investments.

IFCI, previously known as Industrial Finance Corporation of India, is an Indian Government owned non banking finance company established to cater to the long-term finance needs of the industrial sector.

IFCI Ltd. recently announced its Q1 results for the period ending June 30, 2024. Here are the key highlights:

Revenue: The company reported a revenue of ₹4,051.2 million, up from ₹3,243.6 million in the same quarter last year.

Net Loss: The net loss decreased to ₹1,082 million from ₹1,399.8 million year-over-year (YoY), marking a 24.64% improvement.
Earnings Per Share (EPS): The EPS for Q1 stands at ₹-0.44, a decrease of 4.34% YoY2.
Operating Income: Despite a 90.05% quarter-over-quarter (QoQ) decline, the operating income increased by 106.82% YoY.
SG&A Expenses: Selling, General & Administrative expenses saw a reduction of 29.44% QoQ and 8.04% YoY.
These results indicate that while IFCI has made significant annual progress, it faced challenges in the most recent quarter. The reduction in SG&A expenses suggests improved operational efficiency, but the decline in EPS highlights ongoing profitability challenges