Surana Ventures can test Rs 70, says Ganesh Shanbhag, CEO, SMS Financial Services.
Shanbhag told CNBC-TV18, "Surana Ventures is a demerged entity out of a company called Surana Telecom. So it's not having a very great history of listing as such. It's just got a history of around three months of having traded in the stock market. But it is into PV, Photovoltaic cells which is an alternative source of energy and considering that on equity of Rs 24 crore the company would report a PAT of around Rs 17 crore for the full year this year."
He further added, "I think it is under research right now. It has a market cap of just around Rs 111 crore. I think we would see some re-rating over here and the stock price would go to a level of around Rs 70 over here."
