Published on Fri, Jun 15, 2007 at 12:07 | Source : Moneycontrol.com
Updated at Fri, Jun 15, 2007 at 13:56
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Don't buy DLF post listing
JP Sinha of Ambit Capital believes that the DLF issue appears to be stretch on valuations and right now it’s not a right time to get into the stock even the post listing.
JP Sinha of Ambit Capital believes that the DLF issue appears to be stretch on valuations and right now it's not a right time to get into the stock even the post listing.
Sinha told CNBC-TV18, "If you look at the size of DLF issue and the kind of response it has got I was not very much surprised. But definitely on the institutional side, demand was expected to be strong and as it seems that FIIs are the major bidders in that.
He further said, "On the retail and HNIs, there was a hunch that it would do little better but it has come just at the edge; Rs 550 or Rs 500 we will wait and watch what the pricing is. But what we have done that some of the back of the envelope calculation the issue appears to be stretch on valuations and right now I do not think it's a right time to get into the stock even the post listing."
Sinha told CNBC-TV18, "If you look at the size of DLF issue and the kind of response it has got I was not very much surprised. But definitely on the institutional side, demand was expected to be strong and as it seems that FIIs are the major bidders in that. 
