Hariom Pipe Industries Receives Upgraded 'Hold' Rating, Showing Promising Growth Potential

Hariom Pipe Industries, a smallcap company in the iron and steel industry, has recently received an upgraded stock call from MarketsMOJO. The stock has been upgraded to 'Hold' on 2024-06-24, with multiple factors indicating a bullish trend.
One of the main reasons for the 'Hold' rating is the company's healthy long-term growth. With an annual growth rate of 63.70% in net sales and 58.15% in operating profit, Hariom Pipe Industries has shown promising growth potential.

Technically, the stock is currently in a mildly bullish range, with the trend improving from mildly bearish on 20-Jun-24. Since then, the stock has generated a return of 4.93%. Factors such as Bollinger Band, KST, and OBV also point towards a bullish trend for the stock.

In terms of valuation, the company has a fair valuation with a ROCE of 11.4 and an enterprise value to capital employed ratio of 2.6. Additionally, the stock is currently trading at a discount compared to its average historical valuations.

Despite its small size, domestic mutual funds hold only 0% of the company, which could indicate that they are not comfortable with the current price or the business. However, it is worth noting that domestic mutual funds have the capability to conduct in-depth research on companies, which could also mean that they have not yet discovered the potential of Hariom Pipe Industries.

In the last year, the stock has underperformed the market (BSE 500) with negative returns of -7.02%, while the market has generated returns of 38.50%. However, the company's profits have risen by 23%, indicating a PEG ratio of 3.6.

Overall, with its promising growth potential and bullish indicators, Hariom Pipe Industries could be a good stock to hold in one's portfolio. However, investors should also keep an eye on any developments in the company and the market to make informed decisions.