MarketsMOJO Upgrades Narmada Gelatines to 'Hold' Rating, Promoters Show Confidence in Company's Performance

Narmada Gelatines, a microcap company in the chemicals industry, has recently received a 'Hold' rating from MarketsMOJO on May 31, 2024. This upgrade is based on the company's low Debt to Equity ratio of 0 times and a Return on Equity (ROE) of 14.6, indicating a fair valuation with a Price to Book Value of 2.3.
Despite the stock's 31.63% return in the past year, its profits have declined by -3.6%. The majority shareholders of Narmada Gelatines are the promoters, indicating their confidence in the company's performance.

However, the company has shown poor long-term growth with a 7.66% annual growth rate in Net Sales over the last 5 years. In addition, the results for the quarter ending in March 2024 were flat, with a decline of -24.66% in profits.

From a technical standpoint, the stock is currently in a Mildly Bearish range, with the trend deteriorating from Mildly Bullish on May 27, 2024. The Bollinger Band, a key technical factor, has been Bearish since May 27, 2024.

Overall, Narmada Gelatines may be a good stock to hold for now, with a fair valuation and confidence from its promoters. However, investors should keep an eye on the company's long-term growth and technical trends for any potential changes in the future.