The stock has delivered a 40% return in 3 months, with Anand Rathi's report explaining why the stock could still rise by 26%.:The stock has delivered a whopping 40% return in three months. It is trading near its 52-week high. Despite this, brokerages expect further upside. Based on strong technical signals and trend, SEAMEC has a buy recommendation, with an estimated upside of approximately 26%.

News Topical, Digital Desk : The stock has already gained approximately 76% in the past six months and is now trading near its 52-week high. Despite this, the brokerage expects further upside. Based on strong technical signals and trend, a buy call has been issued on SEAMEC, with an estimated upside of approximately 26%.

Brokerage firm Anand Rathi has a BUY rating on SEAMEC Limited and a target price of ₹1,900. The current price is around ₹1,530, suggesting a potential upside of approximately 26%. The timeframe is set at 3 months, meaning this stock could remain in focus in the short to medium term.

Regarding the company's fundamentals, SEAMEC is a leading provider of Diving Support Vessel (DSV) services in the marine sector. It provides underwater operations, maintenance, and infrastructure support for the oil and gas industry. Consequently, the company could directly benefit from increased global energy activity. Now, let's discuss the technical picture, which is the primary reason for this call. According to the brokerage, the stock recently broke above its "yearly floor pivot resistance" and "monthly Camarilla pivot." This indicates that the stock's long-term trend is strengthening and new buyers are entering the market. Technical indicators are also supporting this rally. The DMI is positive, indicating trend strength in favor of the bulls.

The MACD has formed a bullish crossover, indicating further upside movement. Additionally, the RSI is trading above 60 on the monthly chart, indicating strong bullish sentiment in the stock. The brokerage advises investors to buy in the range of ₹1540 to ₹1460. It also recommends placing a stop loss below ₹1300 to control risk. If this setup holds, a target of ₹1900 could be achieved. However, it's important to note that the stock has already gained 76% in six months. Therefore, some volatility is expected in the short term. Therefore, investors should pay close attention to entry levels and stop losses.

What does SEAMEC do? SEAMEC is an offshore and marine services company that primarily serves the oil and gas sector. Its primary function is the inspection, maintenance, and repair of underwater infrastructure such as pipelines, oil platforms, and other systems. For this purpose, the company possesses specialized vessels called Diving Support Vessels (DSVs), which perform complex underwater tasks.

The company conducts deep-sea operations using both human divers and ROVs (robotic machines). Additionally, SEAMEC provides logistics, accommodation, and supplies for teams working on offshore projects, ensuring smooth completion of long-term projects. In recent years, the company has diversified its business to include bulk carrier ships, marking its entry into the shipping sector. SEAMEC operates in India as well as in international markets such as the Middle East, Southeast Asia, and Africa. Overall, it specializes in underwater technical and engineering work, and its business is directly dependent on the activities of the oil and gas industry.