NMDC issue looks positive: Motilal Oswal
ET Now talks to Raamdeo Agrawal, MD, Motilal Oswal Financial on NDMC stock.
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| ET Now talks to Raamdeo Agrawal, MD, Motilal Oswal Financial on NDMC stock.
NMDC today is one of the worst performers, 4% down on big volumes, it has slipped below that 400 mark and that's a long move on the downside for that stock, 14000 crores worth of money that they need to get from the markets. Do you think that just like we saw in the case of NTPC and REC, markets became very lacklustre when big issues hit the market, the same could be the trend now as we see lots of issuances coming in?
Yes, this time the issuance of NMDC is happening in a much more dynamic way in the sense that the market backdrop is very positive and the issuers are aligned to the fact that they need to get a pricing, which is acceptable to the market as a whole, so what could happen is that the pricing could happen at a level where they can actually get participation fund, FIIs and retail. So yes, it will be unsettling for some time but it is on the whole positive because of participation from everybody.
NMDC today is one of the worst performers, 4% down on big volumes, it has slipped below that 400 mark and that's a long move on the downside for that stock, 14000 crores worth of money that they need to get from the markets. Do you think that just like we saw in the case of NTPC and REC, markets became very lacklustre when big issues hit the market, the same could be the trend now as we see lots of issuances coming in?
Yes, this time the issuance of NMDC is happening in a much more dynamic way in the sense that the market backdrop is very positive and the issuers are aligned to the fact that they need to get a pricing, which is acceptable to the market as a whole, so what could happen is that the pricing could happen at a level where they can actually get participation fund, FIIs and retail. So yes, it will be unsettling for some time but it is on the whole positive because of participation from everybody.
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