Rakesh Jhunjhunwala-backed Nazara Tech valuation too high, CLSA says ‘sell’; stock tanks 12%

CLSA’s India coverage universe (ex-financials) of 111 stocks currently trade at an average of 2x FY23CL EV/sales, while Nazara Tech’s stock trades at 6x FY23 EV/sales which makes valuations expensive. 

from The Financial Express https://ift.tt/35zQf3H