Grey mkt overpriced Reliance Power IPO: Vijay

Excerpts from Bazaar on CNBC-TV18 Watch the full show » Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

Portfolio Manager, P N Vijay believes that Reliance Power IPO is a dampener on the whole sector because people are seem to be pulling out money from other power stocks to invest in Reliance Power. It is going to be sort of a DLF effect to power sector.

Vijay told CNBC-TV18, "Reliance Power IPO is a dampener on the whole sector because people are seem to be pulling out money from other power stocks to invest in Reliance Power."

He further added, "Reliance Power is going to give us a sort of a DLF effect to the whole power sector. There are cynics who say that the issue especially if one takes the grey market it's way-way over priced. It's overpriced to about 150% but that's how the Ambani's operate. Right now it is going to be, atleast in the immediate future, pull up effect to the whole sector by better visibility."