The stock also gave a breakout from an ascending triangle pattern on the weekly charts. The neckline of the ascending triangle pattern was placed above Rs 4,200 levels which happened in June 2023 and since then the stock has been trading above this level.
Understanding the high EV to MCAP Ratio
The EV to MCAP ratio assesses a company’s valuation by factoring in debt and cash reserves. A high ratio signals high leverage or strong cash