Visa Steel Stock Trapped Between Bull Case and Bear Case

Visa Steel's stock price has been fluctuating between its 52-week high and low, sparking a bull case for retesting Rs 73.68 and a bear case for a slide back to Rs 27.05.

The company, which operates in the Ferro Alloys space, has recently exited insolvency proceedings after a settlement with Asset Care & Reconstruction Enterprise, allowing it to continue as a going concern.

However, risks such as negative book value and history of heavy losses could keep the stock anchored closer to its recent lows.