MarketsMOJO Upgrades Ashnoor Textile Mills to 'Hold' Following Strong Long-Term Growth and Bullish Trend

Ashnoor Textile Mills, a microcap company in the textile industry, has recently received an upgraded stock call from MarketsMOJO. The stock has been upgraded to 'Hold' on May 21, 2024.
The decision to upgrade the stock to 'Hold' is based on the company's healthy long-term growth. The operating profit of Ashnoor Textile Mills has shown an annual growth rate of 63.63%. Additionally, the stock is currently in a bullish range and the technical trend has improved from mildly bullish to bullish on May 17, 2024. The MACD and KST technical factors also indicate a bullish trend.

Moreover, the company has an attractive valuation with a ROCE of 11.1 and an enterprise value to capital employed ratio of 1.2. 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 87.72%, while its profits have increased by 82.8%. The PEG ratio of the company is 0.1, indicating a potential for future growth.

The majority shareholders of Ashnoor Textile Mills are the promoters, which is a positive sign for investors. The company has a track record of market-beating performance in the long term as well as the near term. In the last year, the stock has generated a return of 87.72% and has outperformed BSE 500 in the last 3 years, 1 year, and 3 months.

However, the company's results for December 2023 were flat, with a 48.84% growth in interest and a -33.74% growth in net sales for the first 9 months of the fiscal year. The non-operating income for the quarter was 90.91% of the profit before tax. Despite this, the overall performance of Ashnoor Textile Mills has been positive and the company shows potential for future growth.