TKYO X sitting on Daily Support

19 Apr

2H chart indicate RSI near oversold. Daily chart show the share price has dropped towards 20EMA band. A bounce towards 55EMA would be closer to 43 with quarterly results are expected in middle of May. A bag of Cement price increase by Rs 100 will be help improve the margins. It is also expected the company to commence operations in the upgraded grinding mill in early part of Q2/2024 and after initial phase of testing, commercial operation to commence hopefully after 2H2024. Upon successful commencement of production, the Co will increase installed capacity to 4mil MT annually from 3mil MT. The upgraded grinding mil is expected to give a distinctive competitive advantage to the company over its competitors. Also lowering the need to import critical RM procurement thus lowering the FX exposure. This would enhance GP going forward. Weekly support is between 40-39.5