TS Harihar of Karvy Stock Broking is of the view that one can remain invested in Punjab Tractors .
Harihar told CNBC-TV18, "Let us not forget that Punjab Tractors is a fairly closely held company and you do not have much of a liquidity floating around at the bourses. In such a situation, I do not think that even when there is an open offer, that really is going to be a great run for people going and accepting the open offer and those who have been invested in Punjab Tractors for the long-term, they have actually made a good amount of money, so I do not think that for a kind of 15-20% upside, people are going to be very keen on going in and exiting that stock. So I think one of the reasons why the stock is not going up is people do not expect a great demand for this one of open offer."
He further added, "We have been recommending to a lot of a people to hold on to this stock. We are telling them do not go for this open offer, hold on this stock, it is worth a lot more. If you take a standard tractor growth and if you look at the kind of dominance that they have in the northern Punjab-Hariyana region, I think anywhere above Rs 450 would be a reasonable value for this stock."
