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No. of Recommendations: 4
Q1 book value was 705. So current price is around 1.3 times book. I will hold out for a price close to book value, i.e, below 750.

There is too much uncertainty around what the BI and event cancellation losses and litigation cost will be, whether contracted or not.

I believe we are in for quite a bit of turmoil in the market for the rest of the year. There should be better opportunities.
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