Stock Analysis: Zaggle Prepaid Ocean Services LtdIntroduction:
Zaggle develops financial solutions and products that are of the highest quality, enabling corporations, SMEs, and startups to effectively manage their business expenses through innovative and automated workflows. It is at the intersection of fintech and SaaS (software as a service). Zaggle is the foremost issuer of prepaid cards in India. It has distributed over 50 million cards. An industry leader in the field of spend management space. Zaggle launched a vendor management platform, Zoyer, and corporate credit cards in Q1FY24. Additionally, they implemented cross-selling initiatives and expanded their customer base.
Fundamentals:
Market Cap: ₹ 7,081 Cr. Stock P/E: 102 (Ind. P/E: 42.41) 👎
ROCE: 17.2% 👍 ROE: 14.1% 👍
3 Years Sales Growth: 48%; 👍 3 Years Profit Growth: 32% 👍
Cons: Stock is trading at 10.5 times its book value 👍
Technicals:
The stock is in a strong bullish momentum—above short, medium, and long-term Term averages.
20 EMA (Black Line) is above 50 EMA (Orange Line) and 100 EMA (Sky Blue Line) in the daily and weekly closing.
Resistance levels: 546, 592
Support levels: 485, 459, 400
