I perceive no alterations in the fundamentals. In my view, the reasons for the observed correction might be as follows:
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The Q3-24 revenue witnessed a decline of around 8% compared to Q2-24. Nevertheless, the management explained that a client supplied raw materials for a project, resulting in a 12Cr reduction in raw material costs and subsequently impacting the top line.
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There appears to be a general trend of selling or profit booking in mid & small-cap stocks.
I hope that helps.
Disclosure – Invested at lower levels