Last 2 months have been very challenging for India due to wave 2 of covid infection and lockdowns announced by state governments to control the spread of infection.
Another positive news for the economy is the prediction of normal monsoon by Indian Met department, which should greatly help rural India where the impact of wave 2 of covid infection has been more than wave 1.
Nifty 50 is trading at more than 20 times 1 year forward earnings, which is close to historic high and supported by low interest rates in India and globally.
If we look at the listing gain opportunity in this IPO, we expect a gains of around 10%-20% as the company is fundamentally strong and available at better valuation than its peers.