Countless examples of Page, aavas, Eicher (5 years it was stagnant at 70x PE) Muthoot, etc not doing well due to high valuations…
Similarly countless examples of Trent, astral, etc doing well in spite of high valuations…
In general, happier giving a loose rope to those who display execution capacities at reasonable to a bit high valuation vs Those where at high valuations growth is slowing down (Eg:- Dmart recently, Aavas from 30%+ growth days to 20%…)
It all depends upon which company one is analyzing.
Let go off tags, and be purely bottoms up in thought and actions in active investing…
At such high PE, one has to have a solid exit strategy if CAGR EPS falls further. Need to watch out the Q1 FY24 for Astral.
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