MarketsMOJO Upgrades Rajvi Logitrade to 'Hold' Based on Positive Financial Results

MarketsMOJO has recently upgraded its stock call on Rajvi Logitrade to 'Hold' on 2024-02-26. This decision was based on the company's positive financial results for the last three consecutive quarters. The company's net sales have shown a significant growth of 103.10% at Rs 12.45 crore, while its PBDIT and PBT LESS OI have reached their highest levels at Rs 0.28 crore.
In addition, the stock is currently in a bullish range and its technical trend has improved from sideways on 26-Feb-24. The DOW and OBV technical factors also indicate a bullish trend for the stock. However, it is important to note that the majority shareholders of Rajvi Logitrade are promoters.

Despite these positive factors, the company's long-term fundamental strength is weak due to its negative book value. Furthermore, its long-term growth has been poor with net sales growing at an annual rate of 75.90% and operating profit remaining at 0%.

Overall, MarketsMOJO's upgraded 'Hold' rating for Rajvi Logitrade is based on the company's recent positive financial performance. However, investors should also consider the weak long-term fundamental strength of the company before making any investment decisions.