Azad Engineering Limited (NSE:AZAD) Looks Just Right With A 26% Price Jump
Azad Engineering Limited (NSE:AZAD) shares have had a really impressive month, gaining 26% after a shaky period beforehand. Looking further back, the 25% rise over the last twelve months isn’t too bad notwithstanding the strength over the last 30 days.
Since its price has surged higher, you could be forgiven for thinking Azad Engineering is a stock to steer clear of with a price-to-sales ratios (or “P/S”) of 25x, considering almost half the companies in India’s Machinery industry have P/S ratios below 2.4x. However, the P/S might be quite high for a reason and it requires further investigation to determine if it’s justified.
