Before demerger mirza trades at 28-30 pe in rally. so redtape should trades at higher multiple in bull case ( personal view ) because leather business is not there and shuja mirza as a md . so there is definately a good chance for improving corporate governance (biggest anti thesis if not improve ) . consider redtape 12 eps for fy23 and multiple of 30 so in bull case price comes around to 360. though that time when mirza trades at 30 pe , scarcity premium is there because of campus and metro not listed . now scarcity premium goes away for shoes companies so redtape can get lower valuation .
personal view not buy sell recommendation.
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