Chennai Ferrous Industries Receives 'Hold' Rating from MarketsMOJO, Shows Strong Management Efficiency and Growth
Chennai Ferrous Industries, a microcap company in the iron and steel industry, has recently received a 'Hold' rating from MarketsMOJO on September 2, 2024. This upgrade is based on the company's high management efficiency, with a ROE of 22.55%, and a low Debt to Equity ratio of 0 times.The company has also shown healthy long-term growth, with an annual growth rate of 51.76% in Net Sales. In addition, the company has reported positive results in June 2024, with its PBDIT(Q) at the highest of Rs 2.60 crore, PBT LESS OI(Q) at Rs 2.32 crore, and PAT(Q) at Rs 1.74 crore.
From a technical standpoint, the stock is currently in a Bullish range and has shown improvement from Mildly Bullish on September 2, 2024. Multiple factors, such as MACD, Bollinger Band, and KST, indicate a Bullish trend for the stock.
With a ROE of 9.6, the stock is fairly valued with a Price to Book Value of 1. However, it is currently trading at a premium compared to its average historical valuations. Despite generating a negative return of -2.19% in the past year, the company's profits have increased by 347.6%, resulting in a PEG ratio of 0.
The majority shareholders of Chennai Ferrous Industries are the promoters. However, the stock has underperformed the market (BSE 500) in the last year, with the market generating returns of 38.49% while the stock has generated negative returns of -2.19%.
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