Quote on Metro brands is down ~6% on listing day By Mr. Amarjeet Maurya, Angel One Ltd
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Below is quote on Metro brands is down ~6% on listing day By Mr. Amarjeet Maurya - AVP - Mid Caps, Angel One Ltd
On the listing day, Metro Brands stock is down ~6% mainly due to the company is trading at higher valuation (TTM PE -86x) and fear of new Covid variant omicron (will increase the possibility of lockdown). However, we are positive on stock for the long term on the back of asset light business, strong brands and wide range of products. We believe every dip in share prices provides buying opportunities to long term investors.
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