The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 9.69% away from the 10-week moving average.
In the last twelve months, Grindwell Norton has rallied nearly 77.3% as compared to 49.1% for the Nifty500. It has a Relative Strength Rating of 75. We definitely would like to see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.
The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Grindwell Norton can maintain this outperformance, it could make sense as a CANSLIM trade.
Another key part of the jigsaw is institutional sponsorship. Grindwell Norton has an Accumulation/Distribution Rating of 'A-'. This represents heavy institutional buying over the past 13 weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.
On the earnings front, Grindwell Norton has an excellent EPS Rank of 94, which indicates consistency in earnings. The earnings and sales for the stock have grown by 9% and 1%, respectively over the past three years. Its 3-years earnings stability is 5, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 25% and 7%, respectively. The 5-years earnings stability is 18. The return on equity for the last reported year is 16%.
The stock belongs to the industry group of Machinery-Gen Industrial, which is exhibiting excellent strength in the current market environment. The current industry group rank is 38.