Mahamaya Steel Industries Limited’s (NSE:MAHASTEEL) 25% Share Price Surge Not Quite Adding Up
The Mahamaya Steel Industries Limited (NSE:MAHASTEEL) share price has done very well over the last month, posting an excellent gain of 25%. The annual gain comes to 101% following the latest surge, making investors sit up and take notice.
Although its price has surged higher, there still wouldn’t be many who think Mahamaya Steel Industries’ price-to-sales (or “P/S”) ratio of 0.9x is worth a mention when the median P/S in India’s Metals and Mining industry is similar at about 1.2x. Although, it’s not wise to simply ignore the P/S without explanation as investors may be disregarding a distinct opportunity or a costly mistake.
