Completely agree with you. There is opportunity cost involved. And in this market if one gets good company with reasonable valuation which can grow very fast with certainty, then one should obviously invest there.
The stock price probably may remain flattish until the capex is not started or completed. And there is uncertainty here in terms of land clearance for this. I am waiting for increasing my allocation until then and enjoy dividends for now. Since I am confident that even if this happens in next 3 years, I might see upside of around 30-40% in proportion to the capex...and I am happy to live with taxfree return of 12-13% + dividends until then.
Plus market is not factoring any upside from knitting facility they are going to commission in coming months.