MarketsMOJO Upgrades Ajcon Global Services Stock to 'Hold' After Strong Financial Performance in September 2024

Ajcon Global Services, a microcap finance company, has recently received an upgraded stock call from MarketsMOJO. The stock has been upgraded to 'Hold' on November 25, 2024.
The company has shown positive results in September 2024, with its highest operating cash flow of Rs 0.84 crore and highest net sales of Rs 5.89 crore. Its PBDIT (profit before depreciation, interest, and taxes) has also reached its highest at Rs 1.23 crore.

Technically, the stock is in a bullish range and has shown improvement since November 22, 2024, with a return of 9.68%. Multiple factors such as MACD, Bollinger Band, KST, and OBV are also indicating a bullish trend for the stock.

With a return on equity (ROE) of 6, the stock is fairly valued with a price to book value of 1.3. However, it is currently trading at a premium compared to its historical valuations. In the past year, the stock has generated a return of 87.64%, while its profits have increased by 61%. The PEG ratio of the company is also low at 0.3.

The majority shareholders of Ajcon Global Services are its promoters, indicating their confidence in the company's performance. The stock has outperformed the market (BSE 500) with a return of 87.64% in the last year, compared to the market's return of 27.32%.

However, the company's long-term fundamental strength is weak, with an average ROE of 4.42% and poor growth in operating profit at an annual rate of -9.99%. Investors should carefully consider these factors before making any investment decisions.