Sharmila Joshi of Asit C Mehta is of the view that one can stay invested in Blue Bird .
Joshi told CNBC-TV18, "The pricing of Blue Bird was fairly reasonable but it's not been the most exciting opening. One must also remember that the kind of business that they are in - the making of notebooks, we have pretty much state-of-art facility. And in terms of market share, in terms of the listed players, there is a big unorganized market. So among the organized market they have a fairly large share of the market of about 48% that's pretty large."
She further added, "The other good thing for the company is that they have done a private placement of their shares at about Rs 98, which is marginally below the IPO price. And given the fact that they will use these proceeds to expand their operations in South India, they have almost covered Western India. Now they want to make their foray into South India and the way they have said that their business works is that they need to have a lot of network of distributors - seems to be in place. So that's the other strong point in favour of the company. So it's not a very exciting business and it may take time before it goes back upto a level where the investor will make money."
"I think the IPO was quite reasonably priced and as such perhaps one may have to wait for a bit but I think one should make money on this stock. I would recommend a hold with a six-eight months time and then take a call on stock again", she said.
