Jindal Photo Receives 'Hold' Upgrade from MarketsMOJO Based on Strong Performance and Bullish Trend
Jindal Photo, a microcap company in the miscellaneous industry, has recently received an upgraded stock call from MarketsMOJO. The stock has been upgraded to 'Hold' on May 21, 2024.The decision to upgrade the stock to 'Hold' is based on several factors. Jindal Photo has shown healthy long-term growth with an annual net sales growth rate of 78.01% and an operating profit growth rate of 105.75%. In addition, the company has also shown positive results in December 2023, with its ROCE (HY) at its highest at 8.26% and its debt-equity ratio (HY) at its lowest at 0.03 times. Furthermore, the company's PBT less OI (Q) is also at its highest at Rs 90.05 crore.
Technically, the stock is currently in a bullish range and has shown improvement from a mildly bullish trend on May 18, 2024. Multiple factors, such as MACD, Bollinger Band, and KST, also indicate a bullish trend for the stock.
Jindal Photo has consistently outperformed the BSE 500 index in the last 3 annual periods and has generated a return of 80.42% in the last 1 year. However, with an ROE of 8.4, the stock is currently trading at a very expensive valuation with a price to book value of 0.3. Despite this, the stock is still trading at a discount compared to its average historical valuations.
It is worth noting that despite its size, domestic mutual funds hold only 0.03% of the company. This could signify that either they are not comfortable with the current price or they have not conducted in-depth research on the company. However, with their capability to do on-the-ground research, their small stake may also indicate potential for growth in the company.
Overall, Jindal Photo's upgraded stock call to 'Hold' by MarketsMOJO is based on its strong financial performance, bullish technical trend, and consistent returns. However, investors should also consider the expensive valuation and the low stake of domestic mutual funds in the company before making any investment decisions.
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