Gokul Refoil fair value at Rs 225

CNBC-TV18s Executive Editor, Udayan Mukherjee - Gokul Refoil is more of a commodity kind of company, into solvent extraction, refined edible oils etc. It is a commodity kind of business and it is a well-priced IPO, so it was quite cheap. I think it came at about 6.5 times FY09 earnings of Rs 30, Rs 195 was the issue price.

So it was at a big discounts to some of its peers like Ruchi Soya and KS Oils. To that extent it might inch up a little bit. But I think around Rs 220-225 could be fair value for that stock. Not hugely exciting but left value on the table for investors on the IPO at least.