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Mehraboon Irani of Darashaw & Company is of the view that one can stay invested in Cranes Software.
Irani told CNBC-TV18, "Cranes Software is a stock I have followed very closely for the last three-four years and this stock definitely has tested the patience of investors like us where we had invested for our clients and frankly we exited also. But a couple of months back I had become very positive on this stock especially there was a lot of news floating around. The two acquisitions the company has made I think is quite positive, especially the engineering simulation business. I think one needs to understand the philosophy of Cranes. It has always believed in acquiring, expanding and growing, and I think after the two acquisitions, this company could possibly go towards a new peak right now."
He further added, "The stock has moved up from Rs 110-120 levels to the present one Rs 134 level. So, to a large extent this news of acquisition is now discounted into the price. But from hereon I feel better days are ahead for Cranes Software. So, as a stock I like it, but after this recent run, I am not in a great hurry to buy it again for my clients. But people who are holding on, can hold on."
May 21 2013, 13:56
- in Results Boardroom
May 21 2013, 11:05
- in MARKET OUTLOOK