IFCI can go upto Rs 75 if the markets hold

CNBC-TV18's Executive Editor, Udayan Mukherjee

Not much happened in IFCI board meeting, which everybody was drumming about yesterday. They are trying to get that strategic sale done once again for that they would need to change the clauses around a little bit, which they seem to be open to doing. But the gate is semi-shut now, their last chance was a best chance it was a roaring bull market out there, everybody loved financials and it was like a big story of getting a foothold into the Indian financial sector and lots of blue blooded investors in the fray and that fizzled out.

So will the same guys come back and bid do you think they can finalize the sale this time around so you keep your fingers crossed because last time there was so much excitement and it fizzled out. So can the stock in this excitement of the intent of doing a strategic sale again get backs to Rs 75-80, If the markets hold then I suspect it can get Rs 75 kind of price in a trading market. I would be extremely surprised if it gets anywhere close to Rs 110 because for 6 months the management could not get the sale done last time and that should certainly make people a bit skeptical and cautious about this round too.