MarketsMOJO Upgrades Ashnoor Textile Mills to 'Hold' Rating Based on Strong Growth and Bullish Trends

Ashnoor Textile Mills, a microcap company in the textile industry, has recently received a 'Hold' rating from MarketsMOJO on May 2, 2024. This upgrade is based on the company's healthy long-term growth, with an annual operating profit growth rate of 63.63%.
Technically, the stock is currently in a bullish range and has shown improvement since April 8, 2024, generating a return of 11.05%. The MACD and KST technical factors also indicate a bullish trend.

In terms of valuation, Ashnoor Textile Mills has an attractive ROCE of 11.1 and a low enterprise value to capital employed ratio of 1.3. The stock is currently trading at a discount compared to its historical valuations.

Over the past year, the stock has generated a return of 116.42%, outperforming the BSE 500 index. Additionally, the company's profits have risen by 82.8%, resulting in a low PEG ratio of 0.2.

The majority shareholders of Ashnoor Textile Mills are the promoters, indicating their confidence in the company's performance.

While the company's results for December 2023 were flat, there has been a significant growth in interest income by 48.84% and a decline in net sales by -33.74% in the last 9 months. Non-operating income accounts for 90.91% of the company's profit before tax.

Overall, Ashnoor Textile Mills has shown strong performance in the long term as well as the near term, making it a 'Hold' for investors.