Gandhi Special Tubes Limited’s (NSE:GANDHITUBE) Price Is Right But Growth Is Lacking After Shares Rocket 27%
Despite an already strong run, Gandhi Special Tubes Limited (NSE:GANDHITUBE) shares have been powering on, with a gain of 27% in the last thirty days. Taking a wider view, although not as strong as the last month, the full year gain of 23% is also fairly reasonable.
In spite of the firm bounce in price, Gandhi Special Tubes may still be sending bullish signals at the moment with its price-to-earnings (or “P/E”) ratio of 17.6x, since almost half of all companies in India have P/E ratios greater than 28x and even P/E’s higher than 54x 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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