Century Textiles best bet in terms of asset play: Mehraboon Irani

In a chat with ET Now, Mehraboon Irani, Principal & Head-Private Client Group Business, Nirmal Bang Securities, shares his views on Century Textiles. Excerpts:

ET Now: You like fundamentally Century Textiles as well which is 8-8.5 per cent up. Why is it essentially a cement story? Is it a textile story, is it a pseudo real estate play; what do you like in Century?

Mehraboon Irani: I would say that the best thing is an asset play. If you look at the market cap of the company and just take the capacity which it has in the cement sector and give it the price, the valuation 90-95 per cent of its market cap is covered by the cement business alone. So as an asset player, Century Textiles even if the price was a 5 per cent higher than this would qualify as a great bet for people who believe that whatever they buy in terms of valuation should be a backed by the assets of a company. So in terms of an asset play Century Textiles possibly remains the best bet and I am saying only the cement capacity alone at the price at which you should give it covers nearly 90 per cent of the present market cap of the company.