Suryachakra Power is a small one. It belongs to the right sector nowadays anything power is good, so I think it might just open with a little bit of a bump, no great runaway rally it’s deserved out here. Rs 20 issue which will excite the traders atleast for a day or two, got subscribed for about a couple of times, no huge over subscription out here.

It’s one of those very small plays, I mean Rs 150 crore-Rs 175 crore market cap in the power business is not a significant play but they have got three legs; they are into power generation in markets like Andaman and Nicobar, getting into Chhattisgarh and Maharashtra. But the more interesting is where most of their profits expectedly will come this year from power trading and the carbon credits business, so you just need to monitor how much sanguine they are about their carbon credit sales whether they can become a meaningful player in the power trading business. Because frankly I think their power generation business is a boring one and they cannot justify that Rs 20 price on their power generation business alone no way. So they will need to look outside that too, to generate money from trading and carbon credits.

But carbon credits sometimes tend to be a one of kind of thing, so okay, they can go on with if they contribute along these lines to something like may be a couple of rupees shared this year, they are already at Rs 10-11 kind of PE. I am a little uncertain about these kinds of companies. Of course you could argue that there is a good carbon credit story out there and say peers are at 15 times why should these be at 11? And trade this stock upto Rs 25-30 but I still think that it will be a punter play out here.

This is no great GVK or GMR in the making; it’s a very small company I don’t think serious investors will flock to this, punters will because it’s a Rs 20 issue. So you could start may be at Rs 23-24-25, trade all the way upto Rs 30. If it’s lucky and traders are brave, then hold that band between Rs 20 and Rs 30 possibly.