Hii,
Sorry to differ from you.
The more better Metrics to check for a cyclical sector such as steel sector, cement sector or telecommunication sector is EV/EBIDTA as they carry high debt in balance sheet and have high gestation period.I think Jindal saw story has just began as it is still trading below median EV multiple.Generally, It peaks up around 12-13.
Disclaimer:- Started Tracking,Not invested
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