I think this stock is best avoided like most of small cap IT/ITES companies. You don’t need to over analyze this and company may be trying to do right things.
But ITES market has become hyper competitive and smaller guys have strong niche they can not make money.
e.g. Take solution has found a niche and trying to reinvent itself. Market seems to like it. But even there we will need to see if they succeed.
Companies who could not grow in hey days in last 25 years have very little chance now unless they have a strong niche.
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