My personal view:
I agree as I used to hold this stock earlier. However, there is a difference between being a good business and being a good investment.
They operate is a industry infamous for political connections. This company has also seen income tax raided couple of times.
I will buy it with huge margin of safety (its on my radar). Its currently trading a little over long term average PE. I would look for good correction to add.
I think the story is still the same.
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