HUBCO is one of the leading Independent power producers of Pakistan. Last year HUBCO gave a dividend of Rs.8/annum and now after the circular debt settlement the HUBCOs it is predicted that it will give a dividend of 70% more than it gave last year. Next year, it is expected after another circular debt settlement HUBCO can give a dividend of 40% more than it is expected to give this year. After this HUBCOs dividend growth is expected to grow at constant rate of 6%. If the cost of equity/required rate of return on HUBCO stock is 30% and currently the share of HUBCO is trading at Rs.99. Does HUBCO stock seem? a. Undervalued b. Over Valued c. Fairly Valued

Please answer it with explanation.