It’s because most companies in the construction and infra sector have struggled with profit margins in the ongoing Q2 results like KEI and Polycab. So, the market is anticipating the same with Venus pipes and discounting it.
Venus and similar companies purchased raw materials at higher price and now have to sell it cheaper because the raw material prices have come down. It’s a cyclical thing so nothing to worry about. The long term story is intact and it’s a good time to accumulate right now.
When everyone is fearful, it’s time to be greedy!
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