Hi – Recent update (Link) to the exchange had non-quantifiable descriptive words about the growth of various lines of business- moderate, a gradual scale up, steady growth. In my thinking, the above seemed reasonable as the business is still able to grow considering their opening statement about the industry growth- The report suggests muted consumer discretionary spending and weak IIP. I will revisit my opinion after analyzing the results of their nearest peer( Blue Dart Express Ltd). However, the market quantified the update by knocking off ~1/3 rd of the market cap.
How do you infer the recent developments?
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