Indeed great results and management seems to be executing strategy quite well. At 720 (which stock touched last month) valuations were very expensive but at 580 and with current earning growth 30 p/e looks very reasonable and in line with historical averages (adjusting for some rerating due to current government and increasing margins).
I still won’t call it undervalued comparing it against insanely valued stocks Hatsun which I don’t understand why they need to trade at 80+ p/e. At some point in time these stocks need to come down to 30/40+ p/e .
Subscribe To Our Free Newsletter |