Hold Coal India: Mehraboon Irani, Nirmal Bang Securities

Mehraboon Irani, Principal & Head-Pvt. Client Group Business, Nirmal Bang Securities, in a chat with ET Now, gives his stock recommendations


An event that happened today with Coal India becoming the most valuable company as opposed to Reliance Industries after a gap of five years. What’s the view on Coal India?

Coal India on the whole at the present level I would say would be a decent hold. Again I would not be very aggressive in recommending this stock at the present levels. Nothing against this company as such. I find it at a decent valuation but again in a market in which there could be an opportunity coming our way over the next one or two months. Money is going to play a very important role because we would have to go out and buy stocks in the market. This entire packet in which I would use about metals and mining where I am including Coal India, at the present level I am tempted to recommend Tata Steel over Coal India at the present valuations.