The PE multiple for EIL is 13.74, while the PE multiple for the sector is 25.3. The stock generated gains of more than 45 per cent in just six months.

Budget 2022-23 is observed to be growth-inducing and does give a significant push to increase capital expenditure. The attention on boosting manufacturing while emphasising areas such as startups, modern mobility, and clean energy, shows the FM has prioritised long-term growth.