this is from the 2022 AR of Jupiter Wagons, there is clear traction in the commercial vehicles industry and this should propel a part of the growth in PCBL, usually, an upcycle lasts for at least 2/3 years. Price action will give more confirmation to our narrative and let’s wait for the next quarter’s earnings. wit oil prices correcting and PCBL using the CBFS oil route to make CB, it’s going be margin accretive for them.
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