Sejal Architectural looks expensive

CNBC-TV18’s Executive Editor, Udayan Mukherjee - I was very surprised that Sejal Architectural Glass got subscribed 10-times because it didn’t look like a very attractively priced. Some of the institutional investors have seen interested in that issue.

Float glass is a good place to be in. It’s a good industry lot of retail coming up and Sejal Architectural Glass is pretty much parked with a lot of people who are using their stuff. At Rs 3 earnings per share, stock is trading at 40 PE multiple, which seems very lofty in this kind of a market environment.
 
So I don’t know whether it goes northward from here but have been surprised by smallcap listing in the last three-months. So Sejal Architectural Glass could go easily at Rs 200. I don’t know about that but it’s seems a bit expensive, glass is generally an expensive space. All its peers are quite expensive but even so- this market condition to pay 35-40 times for a midcap stock seems too brave for me, I wouldn’t do it.