Nitin Spinners' Stock Upgraded to 'Buy' by MarketsMOJO After Record Breaking Quarter.

Nitin Spinners, a smallcap textile company, has recently caught the attention of investors as its stock call has been upgraded to 'Buy' by MarketsMOJO on November 8, 2024. This upgrade comes after the company reported positive results in the September quarter, with its net sales reaching an all-time high of Rs 822.52 crore and its profits also hitting a record high of Rs 42.16 crore.
In addition to its strong financial performance, Nitin Spinners is also showing promising signs from a technical standpoint. The stock is currently in a mildly bullish range and its MACD has been bullish since September 5, 2024. This, combined with its attractive valuation and discount compared to its historical valuations, makes it an attractive investment opportunity.

Moreover, the company's majority shareholders are its promoters, which can be seen as a positive sign for investors. Over the past year, the stock has generated a return of 35.05%, while its profits have increased by 18.7%. This gives the company a PEG ratio of 0.8, indicating that it is undervalued and has potential for growth.

However, there are some risks to consider when investing in Nitin Spinners. The company has a high debt to EBITDA ratio of 3.65 times, which could affect its ability to service its debt. This is something investors should keep in mind before making any investment decisions.

Overall, with its strong financial performance, attractive valuation, and bullish technical indicators, Nitin Spinners is a stock worth considering for investors looking to add a smallcap textile company to their portfolio.