Nirma has target of Rs 238: Aunali Rupani

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Nirma has target of Rs 238: Aunali Rupani

Nirma has target of Rs 238, says Aunali Rupani, Arm Research.

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Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » ALSO READ See previous views by Aunali Rupani See what other Experts & Brokerages are saying about Nirma See messages about Nirma Nirma BSE | NSE 01/01/70 Are Mutual Funds betting on Nirma?

Nirma has target of Rs 238, says Aunali Rupani , Arm Research.

Rupani told CNBC-TV18, "On Saturday the management decided to buy back all the shares from the market at the price of Rs 235 and they want to delist the stock from both the exchanges, now they will have to shell out almost Rs  800 crore to delist the stock."

He further added, "My sense is after speaking to few investors this open offer is not going to go through at Rs 235, in  fact they will have to shell out at least Rs 280-300 per share that means they will to spend as good as Rs 1020 crore to Rs1090 crore to delist the stock from the market. My target for the day for Nirma will be Rs 238."

Disclosure: I have no personal holding in the above stock.