Banas Finance Receives 'Hold' Rating from MarketsMOJO, Shows Positive Results and Attractive Valuation

Banas Finance, a microcap finance company, has recently received a 'Hold' rating from MarketsMOJO on March 6, 2024. This upgrade comes as the company has shown positive results for the last three consecutive quarters. Its profit after tax for the half year has increased to Rs 12.48 crore, while its net sales for the quarter have grown by 29.6%.
Technically, the stock is currently in a mildly bullish range, with the technical trend improving from sideways on March 6, 2024. Multiple factors, such as MACD, Bollinger Band, and DOW, contribute to the stock's mildly bullish status.

Moreover, with a return on equity of 28.2%, Banas Finance has a very attractive valuation with a price to book value of 0.5. The stock is currently trading at a discount compared to its average historical valuations. In the past year, the stock has generated a return of 36.48%, while its profits have risen by 146.6%. The PEG ratio of the company is also at a favorable 0.

It is worth noting that the majority of shareholders in Banas Finance are non-institutional investors. Additionally, the company has a weak long-term fundamental strength due to operating losses. However, with its recent positive performance and attractive valuation, the stock is a 'Hold' for now.