Business

Crystal Integrated Services shares down over 20%

Business: Share price of Crystal Integrated Services declined over 4% on Friday amid broad weakness in the Indian stock market. Shares of Crystal Integrated Services fell as much as 4.27% to hit a low of ₹795.05 per share on the BSE. With today’s decline, the share price of Crystal Integrated Services has fallen over 22% from its record high of ₹1,023.75 per share hit on April 12, 2024. However, the stock has gained over 16% in the last one month. Shares of Crystal Integrated Services had made a good debut in the stock market on March 21, 2024. The stock was listed on the BSE at ₹795 per share with a premium of 11.2% over its issue price of ₹715 per share. Share price of Crystal Integrated Services today recovered to levels close to its listing price.

Analysts believe that

This fall in Crystal Integrated Services shares can be used as an opportunity to buy the stock given its strong growth fundamentals. Vaibhav Kaushik, Research Analyst, GCL Broking said, “Crystal Integrated Services, a leading facility management company focused on healthcare, education and public administration, has seen impressive profit growth over the last five years. With a reasonable PE ratio and solid ROE, the stock offers long-term potential.” Kaushik advises investors to maintain their long position in Crystal Integrated Services shares with a stop loss of ₹765, thereby ensuring risk management as well as benefiting from the company’s strong fundamentals and consistent performance in key areas. “Crystal remains a promising investment for those looking for stable growth in the sector,” Kaushik said. Meanwhile, on Thursday, Crystal Integrated Services announced that it had secured a key contract worth ₹71.4 crore with the Thane Municipal Corporation.

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