Banker pitch at HQ last week; raise of $3.3-5.6 billion may value HMIL up to $28 billion. At $28 billion, HMIL will be valued at 48 times FY23 earnings, while at the lower end of the band at $22 billion, it would be 38.4 times. Maruti Suzuki trades at 40 times FY23 earnings.
Abhijeet Bora’s top 10 Diwali stock picks from large, mid, and small caps
Last few years if you see the rally was supported by both earnings growth as well as the expansion in the PE ratio for the