ISMT can move up to about 260-265 levels: Sharekhan

Hemang Jani, Senior Vice President, Sharekhan, in a chat with ET Now talks about ISMT.

Why did not ISMT really pick up like some of the other steel companies?

Currently it is focussing on the seamless metal tubes it is basically catering to the requirements of the automobile and mining industry and the company has actually set up its own power plant of 50 megawatts which is going to actually reduce the cost for the next one or two-year time frame. These companies are still available at about 5 to 6 PE operating in a good space where the user segment is showing a lot of traction. So this stock can move up to about 260-265 levels and even at that level, it is still looking quite attractive.