“Looking at past earnings would not give you much analytical insights. You have to gauge whether you are at the early cusp of recovery of disinvestment cycle. If it is, then earnings can significantly rise and past multiples will not hold. I mean the earnings will significantly rise to support those valuations,” says Vinod Karki, ICICI Securities.
What is the long-term view building up on the entire capex and manufacturing theme?
Over the last
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