Technocraft Industries (India) Limited’s (NSE:TIIL) 33% Price Boost Is Out Of Tune With Earnings
Technocraft Industries (India) Limited (NSE:TIIL) shareholders would be excited to see that the share price has had a great month, posting a 33% gain and recovering from prior weakness. The last 30 days bring the annual gain to a very sharp 26%.
Even after such a large jump in price, there still wouldn’t be many who think Technocraft Industries (India)’s price-to-earnings (or “P/E”) ratio of 27.6x is worth a mention when the median P/E in India is similar at about 28x. While this might not raise any eyebrows, if the P/E ratio is not justified investors could be missing out on a potential opportunity or ignoring looming disappointment.
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