Subscribe NMDC at 300: Fortress Financial
ET Now talks to Upendra Kulkarni, Executive Director, Fortress Financial Services stok picks.
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| ET Now talks to Upendra Kulkarni, Executive Director, Fortress Financial Services on NMDC stock.
NMDC, 300 is the level where many brokerages are recommending subscribing; do you think that is a fair value?
I think so, the situation is like this. Today, the float is hardly 1.5%, so price in the market really does not have much of a meaning. So it is a wiser decision from the government 350 when they announced it but overall valuation point of view if you compare it with other peers like Sesa Goa it is at much different valuation .
So it makes sense to apply for at the lower end, that is my feeling but there is other caveat also. Something like NMDC might surprise you with some different longer term originals. Short term, I do not think there will be huge upside, 300 is the price.
NMDC, 300 is the level where many brokerages are recommending subscribing; do you think that is a fair value?
I think so, the situation is like this. Today, the float is hardly 1.5%, so price in the market really does not have much of a meaning. So it is a wiser decision from the government 350 when they announced it but overall valuation point of view if you compare it with other peers like Sesa Goa it is at much different valuation .
So it makes sense to apply for at the lower end, that is my feeling but there is other caveat also. Something like NMDC might surprise you with some different longer term originals. Short term, I do not think there will be huge upside, 300 is the price.
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