Hold NMDC for a target of 300: Bonanza Portfolio Limited

Avinash Gupta, Assistant Vice President Research Equity, Bonanza Portfolio Limited in an interview with ET Now talks about NMDC.

What is your view on NMDC?

In context to the reference with China and what has happened in the metals market would definitely influence NMDC. However taking into account the fact that they have got a massive capex plans and profits ahead and that the public issue had only come at Rs300, at which price LIC and so many other issues are bought at, we feel that below Rs300 there is very little downside in the stock and so one should hold it for a target of Rs300 at least.