The company has ran into problems in construction and commissioning of the Panchala plant. Everything has been delayed by 6 months and the commissioning of the plant will be done at the beginning of Q4FY24, per the released details. Would have appreciated if they had elaborated the ‘unforseen’ circumstances due to which the construction and commissioning has been delayed.
Per technical analysis, the stock is in stage 4 decline. My perception is that it will take a long time to come back in stage 2 growth period, which, prima facie should come on the backs of increased topline and better margins from Panchla plant.
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