Aditya Birla Capital Limited’s (NSE:ABCAPITAL) Price Is Right But Growth Is Lacking After Shares Rocket 26%
Despite an already strong run, Aditya Birla Capital Limited (NSE:ABCAPITAL) shares have been powering on, with a gain of 26% in the last thirty days. Notwithstanding the latest gain, the annual share price return of 3.7% isn’t as impressive.
Even after such a large jump in price, Aditya Birla Capital may still be sending bullish signals at the moment with its price-to-earnings (or “P/E”) ratio of 19.2x, since almost half of all companies in India have P/E ratios greater than 30x and even P/E’s higher than 57x are not unusual. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the reduced P/E.
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