Nikita Papers Limited (NSE:NIKITA) Stock Catapults 25% Though Its Price And Business Still Lag The Market
Despite an already strong run, Nikita Papers Limited (NSE:NIKITA) shares have been powering on, with a gain of 25% in the last thirty days. Longer-term shareholders would be thankful for the recovery in the share price since it’s now virtually flat for the year after the recent bounce.
Even after such a large jump in price, given about half the companies in India have price-to-earnings ratios (or “P/E’s”) above 28x, you may still consider Nikita Papers as an attractive investment with its 14.9x P/E ratio. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the reduced P/E.
