Amararaja results fail to supercharge

Investors have brushed aside any positives of the result declared last weekend..there is high amount of pessimism in this counter due to the following reasons:

1. The overhang of the pollution case in Andhra Pradesh High Court.
2. In January 2023 a fire engulfed one of its manufacturing units in Chittoor. Altough insurance covers the loss, but this opens a possibility of the authorities not renewing factory licence etc. Also a bit of margin loss may occur as they outsource this units production.
3. Large Institutional holdings selling out.
4. Company is in the midst of (possibly) taking high debt to construct its giga factory in Telengana

Although one can see an INHS formation which broke out and fell back, now the share price is in danger of breaching its support trendline since last one year.

Investors have to decide whether there is opportunity in adversity or is there a question of exitential risk in this counter...
disclosure: I have taken position at current price