I think you should wait before you invest more in this stock. If the SEBI tantrums regarding options trading result in something meaningful, it will be very negative for broking companies as majority of their Revenues come from Options.
Believe me, I have been waiting for this stock to correct for a very long time, but given the regulatory uncertainty, I am not super confident about Investing right now. The valuations are cheap, but one needs to determine the reasons behind this. If shrinking Revenues and Profits due to Regulatory risk is a possibility, then this stock may be accurately priced.
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