Had recently shared a short on this stock...but with the Adani crisis where a high PE stock has collapsed this one could go along with it too..
The freefloat here too wasn't the highest and post a correction of close to 30% the stock is in peak downward momentum yet still trades at a 96PE.
With a negative result which gave a gapdown expect a further fall here too. The stock makes for an interesting short below 3475 (but there is no instrument to short it except intraday). But for those that hold the stock..pls be cautious..
The only flipside reasoning for it to do well is its a darling of many domestic mutual funds so maybe a couple fund managers choose to absorb the downside pressure but otherwise the stock doesn't warrant a 100 PE multiple for sure.
The freefloat here too wasn't the highest and post a correction of close to 30% the stock is in peak downward momentum yet still trades at a 96PE.
With a negative result which gave a gapdown expect a further fall here too. The stock makes for an interesting short below 3475 (but there is no instrument to short it except intraday). But for those that hold the stock..pls be cautious..
The only flipside reasoning for it to do well is its a darling of many domestic mutual funds so maybe a couple fund managers choose to absorb the downside pressure but otherwise the stock doesn't warrant a 100 PE multiple for sure.