Hindustan Composites Limited’s (NSE:HINDCOMPOS) Share Price Boosted 29% But Its Business Prospects Need A Lift Too
Those holding Hindustan Composites Limited (NSE:HINDCOMPOS) shares would be relieved that the share price has rebounded 29% in the last thirty days, but it needs to keep going to repair the recent damage it has caused to investor portfolios. The last 30 days bring the annual gain to a very sharp 29%.
In spite of the firm bounce in price, Hindustan Composites may still be sending bullish signals at the moment with its price-to-earnings (or “P/E”) ratio of 26.5x, since almost half of all companies in India have P/E ratios greater than 33x and even P/E’s higher than 64x are not unusual. However, the P/E might be low for a reason and it requires further investigation to determine if it’s justified.
For instance, Hindustan…
