MarketsMOJO Upgrades Glittek Granites to 'Hold' Rating, Positive Indicators and Attractive Valuations

Glittek Granites, a microcap company in the ceramics and allied industry, has recently received a stock call upgrade from MarketsMOJO. The stock has been upgraded to a 'Hold' rating, indicating a neutral stance on its future performance.
The technical trend for Glittek Granites has improved from Mildly Bullish to Bullish on 06-Feb-24, making it a favorable choice for investors. The stock is currently trading in a Bullish range and has shown positive indicators such as MACD, Bollinger Band, and KST.

In terms of valuation, Glittek Granites has an attractive ROCE of 1.3 and a low Enterprise value to Capital Employed ratio of 1. This suggests that the stock is currently trading at a discount compared to its historical valuations. Additionally, the company's profits have risen by 53.5% in the past year, while the stock has generated a return of 39.73%.

However, Glittek Granites does have some weak points in its fundamentals. The company has reported operating losses and has a high Debt to EBITDA ratio of 15.40 times, indicating a low ability to service debt. This has also resulted in negative ROE for the company.

In terms of ownership, the majority shareholders of Glittek Granites are its promoters. This indicates a strong belief in the company's potential and future growth.

In conclusion, while Glittek Granites has shown positive indicators and attractive valuations, it also has some weaknesses in its fundamentals. Investors are advised to hold onto their stocks and monitor the company's performance closely.