Probably its because market mostly discounts future earnings in case of growth companies…and here there is expectation of growth because of all the tailwinds uou mentioned.
Good idea maybe to compare similar ratios with what happened in capital goods/infra rally back in around 2004/06 to 2008/09…
I missed being decently invested in capital goods before sector caught fancy and tailwinds became clearly visible and sure to all…
Read some articles where some so called pundits who come up to speak generally during bulls only mentioned that in ateas like defence and rail, rally may continue for few more years…
Disc. Post only for academic purpose and not eligible for any advice.
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