Great run up since the IPO in September 2016. However since then its trading in a band of 300 - 550.

The Chart indicators are weak. There's twizzer top pattern at the current levels. RSI is near the oversold region, so might stablise before crashing.

The profit run rate every quarter is flat at 300 crore i.e, Rs 1200 cr bottomline in a year. The market cap is Rs 66,000 crore. Should one give 55 x PER for a good stable business but in a fiercely competitive landscape?

I would only buy it at 30-35 PER ...i.e., Price of Rs 300 !!


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