MarketsMOJO Upgrades Arunis Abode to 'Hold' Based on Technical Indicators and Valuation

MarketsMOJO has recently upgraded its stock call on Arunis Abode to 'Hold' based on technical indicators and attractive valuation. The stock has shown a bullish trend and has improved from a mildly bullish position on April 29, 2024. Factors such as MACD, Bollinger Band, KST, DOW, and OBV have contributed to the bullish sentiment.
In terms of valuation, Arunis Abode has a very attractive price to book value of 2.2 and is currently trading at a discount compared to its historical valuations. Additionally, the company has shown strong financial performance with a return on equity (ROE) of 16.9% and a profit growth of 76% in the past year. The PEG ratio of the company is also at a low of 0.1, indicating a potential undervaluation.

The majority shareholders of Arunis Abode are the promoters, which can be seen as a positive sign for investors. The stock has also outperformed the market (BSE 500) with a return of 85.79% in the last year.

However, the company's long-term fundamental strength is weak with an average ROE of 3.43% and a poor growth rate in operating profit. The results for December 2023 were also flat, indicating a need for improvement in the company's long-term performance.

Overall, MarketsMOJO's upgraded 'Hold' call on Arunis Abode is based on technical indicators and attractive valuation. Investors should carefully consider the company's long-term fundamental strength before making any investment decisions.