If we look rationally, the results were not so bad that a down circuit is warranted. It is something else which is leading to loss of confidence in the company. While earlier corporate governance was questionable, the management did came across as trying to make amends. However the perception has still not changed and probably worsened.
Due to this, I have got out of my entire positions today. Generally I have seen that anything which goes circuit down takes a lot of time to come back. With that perspective, I exited the counter. However I will keep it in watchlist and monitor the progress of the organization and market verdict as time passes.
Regards,
Nikhil
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