DCM Shriram’s current share price is Rs 1,141, reflecting a 9.44% increase from its previous closing price. The stock has been trading in the range of Rs 1,175.00 and Rs 1,026.05. In the current year, it has yielded a 0.97% return, while over the last 5 days, it has seen a -0.91% change.
The company’s market capitalization is approximately ₹14,767 crore, and it has a price-to-earnings (P/E) ratio of 23.91.
DCM Shriram recently signed a memorandum of understanding with the Gujarat government to invest Rs 12,000 crore in the manufacturing of chemical and petrochemical products, which has positively impacted its stock price.
What is the Reason for the Today Increase in DCM Shriram’s Share Price
The recent increase in DCM Shriram’s share price can be attributed to several factors:
- Positive market sentiment: The stock has been trading in the range of Rs 1,175.00 and Rs 1,026.05, indicating a bullish trend[1]. The stock hit an upper circuit of 20% on September 2, 2023, and continued its rally this year[2].
- Investor optimism: Ventura Securities initiated coverage with a ‘buy’ call, citing that the company has incurred half of its Rs 3,050 crore planned capital expenditure and a potential 32% upside[3].
- Capacity expansion and cost reduction: The company’s capacity expansion plans and reduction in commodities prices have contributed to the stock’s positive performance[4].
- MoU with Gujarat government: DCM Shriram signed a memorandum of understanding with the Gujarat government to invest Rs 12,000 crore in the manufacturing of chemical and petrochemical products, which has positively impacted its stock price[5].
Market Capitalization of DCM Shriram
As of January 2024, DCM Shriram has a market capitalization of $1.92 billion, making it the world’s 4082nd most valuable company according to the data from companiesmarketcap.com[6].
The company’s market capitalization has been fluctuating over the years, with a 5.92% increase in 2023 and a 15.57% decrease in 2022[7]. DCM Shriram is a leading business conglomerate with a group turnover of Rs. 12,080 crores, and its business portfolio comprises primarily of three types of businesses[8].
The company’s latest financial reports show that its current revenue (TTM) is $0.70 billion, with a decrease of 9.08% compared to the previous year[9]. The company’s share price has been performing well, with a 10% increase to Rs 1,143 per share in January 2024[10].
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Revenue of DCM Shriram in the Last Quarter
DCM Shriram reported a revenue of INR 28,474.2 million for the second quarter ended September 30, 2023[11]. However, the exact revenue for the last quarter is not available in the search results.
As per the latest financial reports, the company’s current revenue (TTM) is $0.70 billion, with a decrease of 9.08% compared to the previous year[12]. DCM Shriram is a leading business conglomerate with a group turnover of Rs. 12,080 crores, and its business portfolio comprises primarily of three types of businesses[13].
The company’s revenue is influenced by various factors, including market trends, business operations, and economic conditions[14].