Nicco Parks & Resorts Upgraded to 'Hold' Amid Strong Financial Performance and Bullish Technical Trend

MarketsMOJO has recently upgraded its stock call on Nicco Parks & Resorts to 'Hold' on 2024-01-15. This upgrade comes as the company has shown a low Debt to Equity ratio, indicating a healthy financial position. Additionally, the company has consistently declared positive results for the last 11 quarters, with a strong operating cash flow of Rs 26.58 crore and a net sales growth of 23.20% in the last 9 months.
The technical trend for the stock has also improved, with multiple factors such as MACD, Bollinger Band, and OBV showing a bullish outlook. Moreover, Nicco Parks & Resorts has consistently outperformed the BSE 500 index in the last 3 years, generating a return of 39.12%.

However, with a ROE of 28.3, the stock is currently trading at a premium compared to its historical valuations. The PEG ratio of the company is also at 1.4, indicating a slightly expensive valuation. It is worth noting that despite its strong performance, domestic mutual funds hold only 0% of the company, which could suggest that they are either not comfortable with the current price or the business.

Overall, Nicco Parks & Resorts seems to be in a good position with a strong financial performance and a bullish technical outlook. However, investors should carefully consider the company's valuation before making any investment decisions.