It appears a part of your view is based on your experiences, which do have some weight, but not necessarily can help understand a business, particularly one that provides services catering to crores or people or FMCG like companies. Having a different experience, and thereby having an opposing view to that of the majority is common, but the perception of the market participants is vital, unless those participants are just public, but, if institutions are also participating, they believe in the business, business model, or the changes happening in the business, not to the mention the fact that everyone is looking into the future.
And, despite the future looking optimistic, and a visible growth is seen, the valuation can be the spoilsport.
Not invested.
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