Jul 15, 2013, 03.41 PM | Source: CNBC-TV18
Phani Sekhar, Fund Manager of Angel Broking is of the opinion that one may book profits in Kalindee Rail Nirman (Engineers).
P Phani Sekhar (more)
, Karvy Stock Broking | Capital Expertise: Equity - Fundamental
"Other than that, there is nothing material in this deal because the railway capex story is something that we have been hearing for the last ten years and it simply remains on paper. Considering the balance sheet of Kalindee Rail and the shareholding pattern, it was always a very attractive candidate for takeover but being very small I think it did not make sense for larger infrastructure firms," he added.
"Now with the voluntary stake sale to Texmaco Rail, there will be some stability in the company but since the overall fundamentals still continue to be very poor and valuations are not very attractive, my advise would be to book profits."