HBL Power corrects 9.8% with more volume. There is a blood bath in Mid and Small cap stocks. Still some good stocks have not corrected. Even if they have corrected, it is marginal .
What could be the reasons for this sustained correction in HBL stock in spite of good results.
The possible reasons could be…
- Tonbo Imaging India Private Limited (Tonbo)
Board noted that an amount of Rs. 86.67 crores was invested in 2023. Although, the plan was to
invest Rs 150 crs, a higher valuation was expected by Tonbo for the balance, which was not
accepted by HBL. No further investment in Tonbo is proposed.
Market apprehension might be that this developement may affect future cooperation between the partners .
- The recent announcement of Lithium Cell mfg when the Li cells price have fallen substantially.
I may be wrong.
Discl: Invested.
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