The technicals are definitely looking very good for DEL - nice...

The technicals are definitely looking very good for DEL - nice movement today. Finally, we have run out of sellers. Currently, buyers outnumber sellers 3 to 1. And we're moving up on higher volume, which is also really positive sign. Took around 2 months of consolidation at the IPO price before this breakout.

The other thing is that this is based on strong fundamentals. I have recently posted my 10yr financial model for DEL, and put a fair price at 31c after the June announcements for DESAO. Though even this I feel is conservative because 1) there is optionality such as exiting tenders at the municipal level that are not factored into the business model, and 2) I have only included infrastructure developments that are known over the next five years and not new developments beyond FY25 which no doubt will be inked. Additionally, Morgans came out recently with a 'Spec Buy' at price target of 25.1c.