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Historically, stocks mostly trade above these long-term trend indicators in a roaring bull market. In the event of declines such as the current one, they tend to fall below the 200-DMA, an indication of deep-rooted weakness in the market. The 200-DMA signifies a stocks trend over the past year. A year has roughly 200 trading sessions.
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It demands a P/E multiple of 24 based on FY24 earnings while its enterprise value works out to be nearly 23 times Ebitda. Adani Green Energy, a larger peer, trades at FY25 expected P/E of 113 and EV/Ebitda of over 34.
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The IPO, which opens Wednesday and closes Friday, has been priced in the band of 371-390 per share. The grey market premium - the price in the unofficial market that investors pay for the shares before listing - was at 20 for Swiggy on Tuesday, a 5% premium to the upper price band of 390.
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News and Media
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