Well, when promoters take huge debt and finance that with stocks (40% pledge) and then start giving interviews on youtube and media talking about big orders, increasing margins etc etc, it all soon starts taking the shape of house of cards. At the same time we see remarkable surge in their EPC business happening in just last two years (timing of which again is quite interesting).
It’s very hard to say if the company has suddenly hit a purple pitch when everything is coming together perfectly well or management is just keeping market excited to keep the stock prices high. We all saw what happened to Adani stocks.
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