As per my calculations, the stock is trading around 35 FPE (FY25) in a market where much weaker businesses are getting 60-70 FPE so I wouldn’t say that it is racing ahead of its fundamentals because this is how the market works right? Stocks are priced based on the anticipated future and as of today, it is fairly valued with some more room left because of reasons like industry tailwinds, it’s the spade seller in the infra goldrush, rapid capacity expansion, strong earnings growth projection, great fundamentals, almost a duopoly and sound management.
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