Going by that valuation yardstick, it might not be incorrect to say that even JSW Steel could be overpaying for Bhushan’s assets.
The earnings of Indian metal companies are primarily linked to steel, aluminium and zinc prices.
Net revenue climbed 7.5 per cent on-year to Rs 28,546 crore.
The proposed expansion in FY20 matches that of market leader IndiGo.
The benchmark Nifty’s year-to-date gain is now 10.2 per cent in dollar value.
Market has been concerned over promoter Naveen Jindal’s association with the Congress.
The management has guided that pre-sales could increase 10-12 per cent in FY20.
Over the one-year period, Bajaj Finance, Axis Bank and RIL remain top gainers.
According to analysts, the salt business of Tata Chemicals has been growing in low single digit for the past several years.
It would be difficult for ITC to beat, or sustain, high growth in FY20.
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