Selling pressure continued today and infact stock had touched intraday low of 416 (-15%). I believe Q4 should be good given expected FX gains and margin improvement.
However, stock has corrected sharply over past one week and is now trading at undemanding PE multiple of <13 on trailing basis (ROE more than 20%). Relatively, at discount with peers PI and UPL, which are trading at 40x PE multiple. Why is it trading at so much discount vs. peers, despite consistent EPS growth and healthy ROE? What am I missing?
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