Forecast

Buy or Sell: Senco Gold Share Price Target 2024, 2025, 2030 & 2040 Prediction

Harry

12 March 2024

0

Today, we are going to estimate the Senco Gold Share Price Target 2024 to 2050 Long Term Prediction. Senco Gold is listed on the NSE under the symbol “SENCO” and on the BSE with the code “543936“. let’s analyze the future of Senco Gold shares as well, including whether it’s a good time to buy or sell them today.

Additionally, we will also take into analysis Senco Gold Share Recommendations from various brokerage firms, including Target’s High Price, Target’s Low Price and Recommendation at the end of the article.

Profile of Senco Gold

Keep an eye on Senco Gold’s share price today with real-time updates, and examine its performance on the stock market through comprehensive charts that display the fluctuations in Senco Gold’s stock price.

Senco Gold Share Price Today

Senco Gold Share Price History

An effective method for evaluating the Senco Gold share price Target is by examining research reports and analyses conducted by reputable financial institutions and brokerage firms. The latest research reports are available on Senco Gold.

Senco Gold Share Price Target

The financial services firm SBI Securities published the latest research report on Senco Gold’s Share Price Target, assigning a ‘BUY’ rating with a share price target of Rs. 920 from its current market price of Rs. 807 as of 15 Feb 2024.

Kolkata-based jewellery giant Senco Gold has witnessed a remarkable surge in its sales figures, reporting a staggering 23.3% year-on-year growth, reaching a substantial revenue of Rs 1,652 crore. This surge in sales can be attributed to the enthusiastic response received during various festivals such as Dhanteras, Navratri, Durga Puja, and Diwali, coupled with a high number of weddings during the quarter.

The company’s blended studded sales ratio also experienced a notable uptick, increasing from 11.4% to 11.8% in the second quarter of the fiscal year 2023-24 (2QFY24). Senco aims to further enhance its blended studded sales to 15% over the next 3-4 years. Despite these impressive figures, the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and PAT (Profit After Tax) grew by 11.3% and 5.8% respectively, reaching Rs 181 crore and Rs 109 crore.

However, the EBITDA margin witnessed a slight decline of 119 basis points year-on-year, settling at 11.0%. This dip can be attributed to increased investments in human resources, training, and overall marketing costs, particularly after expanding its operations into tier 3 and 4 cities.

For the first nine months of the fiscal year 2023-24 (9MFY24), Senco’s revenue exhibited an impressive growth of approximately 26% year-on-year, reaching Rs 4,104 crore. This growth was driven by a volume increase of 9-10% and a value increase of 16-17%. Notably, the gold segment observed a 3-4% volume growth and a 9-10% value growth, while the diamond segment witnessed a remarkable surge of 27% in volume terms and 40% in value terms during the same period.

During the 9MFY24 period, Senco added a net total of 19 stores to its network, comprising 4 franchise stores and 15 company-operated stores. As of the latest update, Senco boasts a total of 158 stores, and it plans to further expand by opening 18-20 stores annually over the next 3 years.

In a strategic move to tap into the burgeoning Lab-Grown Diamond (LGD) market, Senco has opened two new LGD stores in Kolkata under the brand name “Sennes” on a trial basis. This initiative aims to understand consumer behavior in this segment better. Management anticipates significant growth potential in this market due to its ability to offer higher carat at relatively lower prices compared to natural diamonds.

Additionally, the company’s buyback policy for LGDs, wherein customers can receive approximately 80% of the prevailing diamond rate and 100% of the metal weight, is expected to incentivize customers to invest in LGDs for both adornment and investment purposes. Senco will focus on designing LGDs to differentiate them from natural diamonds.

Analysts are bullish on Senco’s prospects, citing its strong legacy in the jewelry business, expanding footprint through diverse distribution channels, and focus on affordable jewelry with attractive price points. Maintaining a ‘BUY’ rating on the stock, analysts have set a target price of Rs 920, valuing the stock at 34.1 times its earnings (PE multiple), implying an upside potential of 14.0% over the next 12-18 months.

To analyze the Senco Gold Share Price Target prediction, I will employ technical analysis and machine learning models, specifically focusing on chart patterns, market trends, and historical performance data.

Senco Gold a Good Buy 2024

If you’re considering investing in Senco Gold shares, you might be wondering, ‘Is Senco Gold a good buy for long-term investment?’ Let’s analyze the stock performance. By the end, you’ll have a clearer understanding of whether it’s a good time to include Senco Gold in your long-term investment portfolio in 2024.

Neutral to Positive Oscillator Indicators: The Relative Strength Index (RSI) and other oscillators like the Commodity Channel Index (CCI) and Stochastic %K are showing neutral to positive signals. This indicates that Senco Gold is neither overbought nor oversold, suggesting a stable investment environment.

Strong Buy Signals from Moving Averages: The Exponential Moving Averages (EMA) and Simple Moving Averages (SMA) for various time frames (10, 20, 30, 50, 100 days) are predominantly indicating ‘Buy’. This trend suggests a consistent upward movement in Senco Gold’s stock price, making it a potentially profitable long-term investment.

Stable Momentum and Bullish Power: The Momentum indicator is leaning towards ‘Buy’, and the Bull Bear Power also shows a ‘Buy’ signal. These indicators suggest that the current momentum of Senco Gold’s stock is strong and likely to continue, which is a positive sign for long-term investors.

Volume Weighted Moving Average (VWMA): Although the VWMA shows a ‘Sell’ signal, this could be indicative of short-term fluctuations. For long-term investment strategies, the overall trend of the moving averages is more critical, and they are showing a positive trend.

Pivot Point Analysis: The pivot points, used to identify potential support and resistance levels, do not show any alarming trends. This stability is a good sign for investors looking for long-term investments.

The technical analysis of Senco Gold Ltd. suggests that the stock is a good buy for long-term investment in 2024. The indicators point towards a stable and growing stock value, making it an attractive option for investors seeking long-term growth.

Company’s Fundamentals

Peer Comparison of Senco Gold

How to Buy Senco Gold Share

• Click on the “Open an Account in Upstox“
• Fill in the required details
• Complete the verifying your identity
• Login to Your Account
• Search for Senco Gold
• Place an Order.

To stay updated with the latest information related to the stock market and receive live stock market updates, follow Sharedhan and stay connected with us. Check out Today’s Share Market Open or Closed India.

I would like to remind you that I am not authorized by SEBI to provide any financial advice or recommendations. As you know, Share price prediction is not an exact science, That’s why I am conducting in-depth research and using different AI tools to predict share prices.

Disclaimer– These Share Price Targets for “Senco Gold Share Price Target” are only provided for informational purposes. It does not constitute a recommendation to buy, sell, or hold Senco Gold stock. Investors should conduct their research and analysis and consult with financial experts before making any investment decisions— Sharedhan.com