Ambareesh Baliga of Karvy Stock Broking feels that one could get Future Capital, below its issue price or closer to that. So he advised not to buy at current levels, wait for the better results in near term.
Baliga told CNBC-TV18, "I will not buy Future Capital at Rs 875 levels because earlier also we felt that it was expensive at the issue price although the gray market premium was quite high. But the listing shows that it was a bit artificial. Because we feel that this is discounting a bit too much on the future. So we will wait for the performance to come in before really looking at buying this stock."
He further added, "We could get this below its issue price, I will not say too much below issue price but closer to the issue price over the next month or month and a half because we really do not see the markets going anywhere in next month or month and a half. It would still be a bit painful for the markets so one should get this stock closer to the issue price."
Source: Moneycontrol.com
Friday, February 1, 2008
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