Sadhana Nitro Chem Limited (NSE:SADHNANIQ) May Have Run Too Fast Too Soon With Recent 28% Price Plummet
The Sadhana Nitro Chem Limited (NSE:SADHNANIQ) share price has fared very poorly over the last month, falling by a substantial 28%. For any long-term shareholders, the last month ends a year to forget by locking in a 77% share price decline.
Even after such a large drop in price, Sadhana Nitro Chem may still be sending very bearish signals at the moment with a price-to-earnings (or “P/E”) ratio of 65.6x, since almost half of all companies in India have P/E ratios under 29x and even P/E’s lower than 16x are not unusual. Although, it’s not wise to just take the P/E at face value as there may be an explanation why it’s so lofty.
