Goa Carbon Receives 'Hold' Rating from MarketsMOJO, Technical Indicators Point to Bullish Trend

Goa Carbon, a microcap company in the carbon black industry, has recently received a 'Hold' rating from MarketsMOJO. This upgrade is based on various technical indicators, such as MACD, Bollinger Band, KST, and OBV, which all point towards a bullish trend for the stock. Additionally, the company's ROCE of 39.6 and its trading at a discount compared to its historical valuations make it a fair valuation.
However, the stock has shown poor long-term growth, with operating profit growing at an annual rate of only 9.47% over the last 5 years. In the last quarter, the company declared very negative results with a fall in net sales of -28.39%. This has resulted in a decline in profits by -3.8% over the past year.

Despite consistent returns over the last 3 years and outperforming BSE 500, the company has declared negative results for the last 2 consecutive quarters. The latest quarter saw a significant decline in PAT(Q) at Rs 2.98 cr, falling by -86.1%, and the lowest operating profit to interest (Q) at 1.26 times and net sales (Q) at Rs 127.80 cr.

It is worth noting that despite being a microcap company, domestic mutual funds hold only 0% of the company. This could indicate that they are either not comfortable with the current price or the business itself. However, as domestic mutual funds have the capability to conduct in-depth research, this could also be a sign of potential future growth for the company.

Overall, while the stock is currently in a bullish range, it is important to consider the company's poor long-term growth and recent negative results before making any investment decisions.