Hikal numbers are poor and there is no getting around it. And the stock has been punished in line with the numbers. With these kind of numbers the investors faith tends to get shaken. I expect not much upside from the stock till next quarter numbers or if anticipation is of good numbers then there can be an anticipatory rally.
There can be a bounce once the initial kneejerk selling subsides and one needs to see the contour of the bounce to make a call. The promise of blockbuster FY 22 will of course get some investors with a long term horizon interested. But those with a view on opportunity cost will find it advisable to sell.
This quarter has been a bunch of bad news with the exceptional item coming as a surprise along with the other causes of lower revenues and profits.
I think overall the faith restored since past 4-6 quarters with decent numbers gets shaken with this kind of a quarter. I have read the notes put up on the hikal thread by guys who attended the concall and would like to first listen to the concall myself before taking a call.