Possible Breakouts

The stock breakout from stage-two Cup with Handle based on above-average volumes and is currently trading in the ideal buy zone.

Tega is a global leader in designing and manufacturing of ‘critical-to-operate’ consumables for the mining, mineral processing and material handling industries. Recent Financial Performance (Q2 FY24): Operating revenue increased 37% y/y to Rs 377.5 crore. Profits increased 34% y/y to Rs 47.4 crore. EBITDA margin improved 20bps y/y to 21.6%. Growth Drivers: The company focuses on customized product design. Its engineered, built-to-suit competence has resulted in a neat fit, customized for each mineral processing site. This leads to enhanced value for its customers. The company has a low reliance on outsourcing vendors for its logistics. This enables the company to have lower failure rates and enhances control across its processes. Tega is in a strategic position in terms of its operations. The industry in which it operates is a high entry barrier, with only a few companies as its competitors. It has a presence in 18 countries that are strategically placed proximate to the world’s major copper and gold mining locations in Chile, South Africa, and Australia.