The stock today fell amid selling pressure in the overall markets. The headline indices S&P BSE Sensex and Nifty50 were trading 0.40% lower around this time.
While money managers have sounded out a word of caution, stating that risk-reward remains unfavourable in several pockets of the smallcap segment, an analysis of the valuation based on the price-to-earnings ratio (P/E), suggested that there are still some multibaggers which are trading below their 5-year average.
Nuvama Professional Clients Group is bullish on the company and believes that it’s a stock one should have in their portfolio, as it’s a strong play on the capex upcycle in refining and petrochemicals, renewables, fertilisers, and green hydrogen.