Stance: Invested, Looking to add more in case of dips
Don’t think there is any news on this behind the recent rally.
I guess this is what the bull market does. However, the business continues to show strong fundamentals.
In fact, PE ratio of global music labels are also >40 presently.
Warner Music – ~40 PE
Universal music – ~42 PE
Generally, there is a premium for Indian companies; Hence, the valuation of 50 PE for Tips can be justified, because they show strong promise of 30% growth.
However, nothing can be said about valuations in bull markets. Given the business model is superb, I may add this whenever there is a drop in price.
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