Hariom Pipe Industries Downgraded to 'Sell' by MarketsMOJO on November 11, 2024.

Hariom Pipe Industries, a smallcap company in the steel/sponge iron/pig iron industry, has recently been downgraded to a 'Sell' by MarketsMOJO on November 11, 2024. This decision was based on several factors, including the company's flat results in September 2024 and its growing interest at a rate of 34.56% in the last 9 months. Despite being a smallcap company, domestic mutual funds hold only 0% of the company, which could indicate their discomfort with the stock's price or the business itself. Additionally, Hariom Pipe Industries has underperformed the market in the last year, with negative returns of -11.92% compared to the market's 30.30% returns. However, there are some positive aspects to consider. The company has shown healthy long-term growth, with net sales and operating profit growing at an annual rate of 59.42% and 58.15%, respectively. Furthermore, the stock is currently trading at a discount compared to its historical valuations, with a fair valuation and a 2.5 enterprise value to capital employed. On the technical side, the trend for the stock is currently sideways, indicating no clear price momentum. This trend has deteriorated since November 11, 2024, when it was mildly bullish, resulting in a -5.88% return. In conclusion, while Hariom Pipe Industries may have some positive aspects, the recent downgrade to 'Sell' by MarketsMOJO and its underperformance in the market may be cause for concern. Investors should carefully consider all factors before making any decisions regarding this stock.