This makes sense until China being a major supplier , Chinese exports going down and China importing less yarn . But if China isn’t going to export much, that should not bring down demand which China was fulfilling to Zero? Demand would get fulfilled eventually from somewhere. These should be just temporary issues until supply chain gets sorted. For me , it looks like this is factored in the prices currently . 2013-14 when PE was 3.5 for Ambika was a different time , we were coming out of a Big Bang recession with low confidence in the financial markets about recovery. DXY is gaining strength and is projected to go much higher, with that rupee will depreciate as well. Ambika will gain what they loose from rupee depreciation , that’s what I feel.
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