 "Wait for firm volume uptick trend before taking exposure to Page stock")
After a dismal volume growth in the March 2019 quarter amid liquidity crunch and overall slower demand, the stock of Page Industries (also known as Jockey India) has shed 8 per cent in the last one month, against 2 per cent gain on the BSE Sensex.
Valuations, too, have corrected after an indifferent and volatile show over the last few quarters. The stock currently trades 42x its 2020-21 estimated earnings, which is a 12 per cent discount to its average one-year forward valuation in the last five years.
The consumer shift in the innerwear category from being price sensitive to
