Dont know what the market was factoring.
Please note ICRA credit rating note was released on July 10, 2024 well post 1QFY25 when the 1 month strike happened. So the Rs 700 crs revenue and 14% EBITDA margins expectations for FY25 factor in the 1 month strike impact.
It is also possible people who got in at very low levels are booking profits. Stock is anyway illiquid and moves in upper and lower circuits.
Disclosure: Invested and buying more.
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