Glittek Granites: A Strong Performer in 2023

Glittek Granites, a leading player in the ceramics and allied industry, has recently caught the attention of investors with its upgraded stock call to 'Hold' by MarketsMOJO. The company, which falls under the microcap category, has shown a technically bullish trend with its stock improving from mildly bullish to bullish on January 1, 2024.
One of the key factors contributing to this upgrade is the company's attractive valuation with a ROCE of 1.3 and an enterprise value to capital employed ratio of 1. This indicates that the stock is currently trading at a discount compared to its historical valuations. Additionally, Glittek Granites has also outperformed the market with a return of 44.98% in the past year, while its profits have increased by 53.5%.

However, the company's long-term fundamental strength is weak due to its operating losses and high debt to EBITDA ratio of 15.40 times. This has also resulted in negative ROE for the company. In the latest quarter, the company reported flat results in September 2023.

Glittek Granites is primarily owned by its promoters, indicating their confidence in the company's future prospects. While the stock may not have potential for future growth, it has shown a strong performance in the past year and is currently a good option for holding in one's portfolio.