Exit RCF on the upside: Ashish Maheshwari, Globe capital market Ltd

Ashish Maheshwari, Director, Globe capital market Ltd, in a chat with ET Now talks about RCF.

What is the call on RCF?

Market was having some hint of its FPO. Because of this for quite sometime, we have seen some amount of liquidation happening in that stock because this is a time when companies like Chambal Fertilisers or Zuari Agro are near 52-week high. Now this has retraced quite a bit from 117 to 90 levels.

So in my view, investors who have bought the stock should remain in the stock. But on upside, investors should try to exit because we are giving a price target of 80 as we are not optimistic that IPO will come above 80.