Elegant Marbles and Grani Industries Receives 'Hold' Stock Call from MarketsMOJO

Elegant Marbles and Grani Industries, a microcap trading company, has recently received an upgraded stock call from MarketsMOJO. The stock has been upgraded to 'Hold' on July 12, 2024.
The company's low Debt to Equity ratio, averaging at 0 times, is one of the main reasons for the upgraded stock call. Additionally, the stock is currently in a bullish range and the technical trend has improved from mildly bullish on July 12, 2024. Multiple factors, such as MACD, Bollinger Band, and KST, also contribute to the bullish sentiment.

With a ROE of 3.6, the stock is fairly valued with a price to book value of 0.8. However, it is currently trading at a premium compared to its average historical valuations. In the past year, the stock has generated a return of 71.04%, outperforming the market (BSE 500) returns of 38.16%. This impressive performance can be attributed to the majority shareholders being promoters.

Despite the recent negative results in March 2024, after 12 consecutive positive quarters, the company's profits have still risen by 15.5%. However, the PAT(Q) at Rs 0.23 crore has fallen by -84.7%, while the NET SALES(Q) at Rs 8.17 crore has fallen by -10.9%. The PBDIT(Q) is also at its lowest at Rs -0.19 crore.

Overall, Elegant Marbles and Grani Industries has shown a market-beating performance and has received a 'Hold' stock call from MarketsMOJO. With its strong financials and bullish trend, the company has the potential to continue its growth in the trading industry.