Him Teknoforge receives upgraded stock call from MarketsMOJO, but long-term fundamentals remain weak
Him Teknoforge, a microcap company in the auto ancillary industry, has recently received an upgraded stock call from MarketsMOJO. The stock has been upgraded to 'Hold' on June 19, 2024.The company has shown positive results in the March 2024 quarter after three consecutive negative quarters. Its operating profit to interest ratio has reached a high of 2.64 times, while its net sales and PBDIT have also seen significant growth.
Technically, the stock is currently in a mildly bullish range and has shown improvement since June 13, 2024, generating a return of 13.48%. The Bollinger Band and KST technical factors are also bullish, indicating a positive trend for the stock.
With a ROCE of 7.6, the stock is currently trading at a very attractive valuation with a low enterprise value to capital employed ratio of 0.8. It is also trading at a discount compared to its average historical valuations. However, it is important to note that while the stock has generated a return of 42.99% in the past year, its profits have fallen by -37.4%.
On the other hand, the company has weak long-term fundamental strength with an average ROCE of 7.81%. Its net sales and operating profit have only grown at a rate of 2.89% and 4.03% respectively over the last 5 years. Additionally, the company has a high debt to EBITDA ratio of 4.13 times, indicating a low ability to service debt.
Another concerning factor is that 58.15% of the promoter shares are pledged. This means that in falling markets, there may be additional downward pressure on the stock prices.
Overall, while the stock has shown positive growth in the recent quarter and has a bullish technical trend, it is important to consider the weak long-term fundamentals and high promoter pledged shares before making any investment decisions. MarketsMOJO's upgraded 'Hold' call reflects a neutral stance on the stock, and investors should carefully evaluate all factors before making any decisions.
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