According to Rajesh Agarwal, Head of Research of Eastern Financiers, one may sell Kalindee Rail Nirman (Engineers) as the numbers are not that good enough to hold on to the stock.
Rajesh Agarwal, Head of Research of Eastern Financiers told CNBC-TV18, "Nothing is there in Kalindee Rail Nirman (Engineers) as such to hold because if one looks at the numbers trading at a P/E of around 10-12 times, it is already valued and once this open offer theory goes away, the stock is likely to fall because the open offer is around Rs 65 and is trading at around Rs 75-76. So one should definitely book profits and get out of this stock"
"They are into EPC business and railway signaling. They might get some order because the focus is on the railways and the security but still the numbers are not that good enough to hold on to the stock and this price has already taken into consideration all the positives. I think one should book profits," he said.