I find it interesting that in this bull market, one prominent stock making new lows is Nestle India.
Nestle India trades at high valuations-around 40 Times FY 2013 (Jan-Dec) EPS of 115 Rs.
Their profits for 31 March,2014 showed a drop of 7%.
The market didn’t like this one bit-a growth stock is supposed to keep growing.And hence the stock price is getting whacked.
Am reminded of Hindustan Lever-it sat out the entire bull run of 2004-2008 as it was expensively priced to begin with.