All these developments notwithstanding, the best time to add Ireda would be when it corrects another 30-50% from here (it has already corrected 25% from the top). If you are buying a financial services company at 7-8x price to book and hoping to make returns you need to be extremely lucky.
Bajaj Fin, a gold standard in NBFC space, was trading at 10 p/b in October 2021. Stock has since been in a time correction giving negative return. Same goes for Kotak or HDFC bank. Nothing wrong with their fundamentals or earning performances. It’s just that their stocks ended up on wrong side of the valuations.
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