Further Upside For GTL Limited (NSE:GTL) Shares Could Introduce Price Risks After 36% Bounce
The GTL Limited (NSE:GTL) share price has done very well over the last month, posting an excellent gain of 36%. The bad news is that even after the stocks recovery in the last 30 days, shareholders are still underwater by about 8.7% over the last year.
Although its price has surged higher, GTL may still be sending very bullish signals at the moment with its price-to-sales (or “P/S”) ratio of 0.7x, since almost half of all companies in the IT industry in India have P/S ratios greater than 3.9x and even P/S higher than 10x are not unusual. Although, it’s not wise to just take the P/S at face value as there may be an explanation why it’s so limited.
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