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Shah`s view on Emkay Global
Rajen Shah, CIO, Angel Broking feel that, for next two years Emkay Global can irrespective of which way the market goes - probably give you a 100% upside.
Rajen Shah, CIO, Angel Broking feel that, for next two years Emkay Global can irrespective of which way the market goes - probably give you a 100% upside.
Shah told CNBC-TV18, "I think I would certainly not look at any of IDFC , IFCI , PFC, Shriram Transport these companies. But one sector which I have started liking actually related to finances - the broking space. I think the broking industry is going through a very bad phase currently. Volumes are down anywhere between 35-50%. Lot of broking companies are actually cutting down on employees and all that but I think the phase which we are currently seeing in the market is a temporary phase and I think in the next maybe 6, 9 or 12 months things are going to move up and improve very sharply and as and when that happens - I think we will see a significant re-rating of many of these broking companies."
He further added, "One of the companies which comes to mind is Emkay Global actually. It's quoting at about Rs 44. Market cap is about Rs 108 crore and it's available at 10 PE multiple. I think the next two years probably this stock can irrespective of which way the market goes - probably give you a 100% upside."
