True.
There can not be a situation where a stock goes only one way up and up. Correction is considered healthy.
Even after this fall , still the stock is giving 227% return in last one year and more than 1000% in last two years.
What else a long term investor wants ? Though some short term traders and investors those who go with the momentum and whose aim is to make money overnight may get caught at times.
The run up was not without a reason. Its financial performance over last 2 years- order book , new capacity addition which the investors have liked . Now market perhaps would like to see repeat performance of last few quarters before further rise.
I closely monitor the defence sector for the last two years and I belive the defence story remains in tact both in terms of order book / order pipelines/potential inflows both from Indian Navy and other sources and export potential- but I may be totally wrong in my assessment.
The only way perhaps the defence sector may take a beating only if all.of a sudden India-China and india- pakistan become close frends and sign up an agreement to bring a cease fire in Arms race and all of a sudden the geo political situations improve everywhere in the world with similar agreement with a vow to bring the arms race to a full stop. Which I wish should happen- World peace. However, on the ground situation is different -Today every nation’s priority is to protect its own sovereignty and defence budget occupies the top slot
Discl : Remain invested from 2022.for long term… I may be biased. Not a buy sell recommendation.
please do your own assessment before buy/ sell.
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