Bullish on Century Textiles, Raymond, Bombay Dyeing: Seshadri Bharathan
Post the Indiabulls-NTC deal, the land bank has been re-valued for most of these companies.
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| ET Now spoke to Seshadri Bharathan, MD & CEO, KSEMA Fincon Ltd., on his stock picks in textile space.
Some of these textile stocks with the land bank play Century Textiles, Raymond, Bombay Dyeing, any of these stocks that you possibly like right now?
Definitely all the 3 names that you have taken because post the Indiabulls-NTC deal, the land bank has been re-valued for most of these companies.
If you look at Bombay Dyeing, earlier the NAV per share was around Rs1395 which I think now is around Rs1600. So stock trades at a significant discount to the NAV price. As far as Raymond goes there is lot of speculation that they have done a deal with Sheth Builders in Thane for their Thane property.
Same for Century we have seen that the property value has got rerated because their properties in Lower Parel, Dadar area in Mumbai and that's where the Indiabulls deal happened per acre for Rs200 crore.
Some of these textile stocks with the land bank play Century Textiles, Raymond, Bombay Dyeing, any of these stocks that you possibly like right now?
Definitely all the 3 names that you have taken because post the Indiabulls-NTC deal, the land bank has been re-valued for most of these companies.
If you look at Bombay Dyeing, earlier the NAV per share was around Rs1395 which I think now is around Rs1600. So stock trades at a significant discount to the NAV price. As far as Raymond goes there is lot of speculation that they have done a deal with Sheth Builders in Thane for their Thane property.
Same for Century we have seen that the property value has got rerated because their properties in Lower Parel, Dadar area in Mumbai and that's where the Indiabulls deal happened per acre for Rs200 crore.
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