What You Can Learn From Kalana Ispat Limited’s (NSE:KALANA) P/E After Its 26% Share Price Crash
Kalana Ispat Limited (NSE:KALANA) shareholders that were waiting for something to happen have been dealt a blow with a 26% share price drop in the last month. Instead of being rewarded, shareholders who have already held through the last twelve months are now sitting on a 23% share price drop.
Although its price has dipped substantially, given around half the companies in India have price-to-earnings ratios (or “P/E’s”) below 27x, you may still consider Kalana Ispat as a stock to potentially avoid with its 35.6x P/E ratio. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the elevated P/E.
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