Deep Industries Upgraded to 'Hold' Status
Deep Industries, a smallcap company in the oil exploration and refineries industry, has recently been upgraded to a 'Hold' by MarketsMOJO. This decision was based on the company's strong financial performance and positive results in the recent quarter.One of the key factors contributing to the upgrade is the company's low Debt to Equity ratio, which is currently at 0 times. This indicates a healthy balance sheet and financial stability. Additionally, Deep Industries has shown consistent growth in its Net Sales, with an annual growth rate of 23.23%, and Operating profit, which has grown by 299.05%.
In the latest quarter, the company's Net Sales grew by 44.93% and its PAT (profit after tax) grew by 65.87%. This has resulted in a high ROCE (Return on Capital Employed) of 9.88%, indicating efficient use of capital.
From a technical standpoint, the stock is currently in a Mildly Bullish range, with its RSI and KST technical factors also showing a Bullish trend. Furthermore, institutional investors have increased their stake in the company by 0.99% in the previous quarter, indicating their confidence in the company's fundamentals.
Deep Industries has also outperformed the market (BSE 500) with a return of 82.38% in the last year, compared to the market's return of 25.12%. However, the company's management efficiency is a concern, with a low ROE (Return on Equity) of 6.39%. This signifies a low profitability per unit of shareholders' funds.
The stock is currently trading at a premium with a Price to Book Value of 1.1, which is higher than its historical average. However, considering the company's strong financial performance and market-beating returns, this valuation can be justified. The PEG ratio of the company is also low at 0.2, indicating that the stock is undervalued.
Overall, Deep Industries shows promise for future growth and has been upgraded to a 'Hold' by MarketsMOJO. However, investors should keep an eye on the company's management efficiency and valuation before making any investment decisions.
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