I would think very hard before buying Coal India: Saurabh Mukherjea

Saurabh Mukherjea, Head of Equities, Ambit Capital, in a chat with ET Now, gives his view on Coal India.

ET Now: What is the call on Coal India?

Saurabh Mukherjea: We do not cover the stock partly because the governance of the stock is such that most of our clients based-abroad refuse to looking at it. The governance is obviously a matter of public debate at the moment. From a fundamental perspective given how the government is treating Coal India, I would think very hard before buying those shares.

It is pretty much being used by the Government of India as its sole property and the interests of some minority shareholders really do not seem to matter for much. So, it will be a brave buyer who goes against the face of presidential diktat literally and against the face of presidential diktat chooses to buy these shares.