Technically and Fundamentally there is minimum downside at current levels 283 280.
Fundamentals:- Stock is available at Trailing EVEBITDA below 11 and Trailing PE below 20. Around same ratios the stock had bottomed out in Feb March 2022. Management has guided for 25% CAGR EPS growth from FY22 to FY27. The stock has already achieved 29% EPS growth in FY23 and for Half year FY24, the results are already impresssive and on track for 25% growth. Management has already hinted for diversifying into other renewable gas like Ammonia, Hydrogen (after some quarters).
Technically:- The stock is at support of Handle formation. Classic Cup and Handle formation is in progress. Safe players can wait for green candle reversal at this levels and add above 295 zones. The stock is at very comfortable zone for medium term traders.
Intrinsic value: 305 Rs.
Stock price is less then Intrinsic value, so chances of going wrong are very minimal.
This information is for Education Purpose. Disclosure: Have Position in this stock.
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283 to 308 and it has just started
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318 from 283
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332 from 283 Booked 25% today at 330
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339 from 283 Awesome move
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346 Booked another 25%... can go towards360 before any pullback...