The stock did not shoot up because of announcement of sale of hydrogen- it shot up on the news of 50 percent stake sale in the subsidiary of Middle East, showing managements commitment to reduce debt. The management has been very clear that hydrogen is proof of principle and a prototype that has got approved - and as of now because of the ambiguity in future of fuel sources of automotive engineering, management is being prepared to have first mover advantage. The extreme short term bearish or sideways view may be correct because it seems the market doesn’t like 15 percent guidances nowadays, but the company is exactly walking the talk and at the exact same timeline they said. The concall had terrific clarity about growth runway and management vision. The new capex will come online this year and may be a trigger for rerating - also the management said that the LPG order may be announced in 15 days or so because they are already continuing to deliver - that may also be a short term trigger for an upmove. It surprises me that all news is in public domain and yet at announcements and results we keep reacting at 4-5-10 percent stock movements.
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