Refractory Shapes Limited’s (NSE:REFRACTORY) 28% Dip In Price Shows Sentiment Is Matching Earnings
The Refractory Shapes Limited (NSE:REFRACTORY) share price has fared very poorly over the last month, falling by a substantial 28%. For any long-term shareholders, the last month ends a year to forget by locking in a 66% share price decline.
Although its price has dipped substantially, Refractory Shapes’ price-to-earnings (or “P/E”) ratio of 16x might still make it look like a buy right now compared to the market in India, where around half of the companies have P/E ratios above 28x and even P/E’s above 54x are quite common. However, the P/E might be low for a reason and it requires further investigation to determine if it’s justified.
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