Meghmani Organics Limited’s (NSE:MOL) Price Is Right But Growth Is Lacking After Shares Rocket 28%
Meghmani Organics Limited (NSE:MOL) shares have continued their recent momentum with a 28% gain in the last month alone. Taking a wider view, although not as strong as the last month, the full year gain of 10% is also fairly reasonable.
In spite of the firm bounce in price, Meghmani Organics may still be sending buy signals at present with its price-to-sales (or “P/S”) ratio of 1x, considering almost half of all companies in the Chemicals industry in India have P/S ratios greater than 1.5x and even P/S higher than 4x aren’t out of the ordinary. However, the P/S might be low for a reason and it requires further investigation to determine if it’s justified.
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