Sell Fresenius Kabi advises Sharmila Joshi

Sharmila Joshi, Head of Equity at Peerless Securities advised selling Fresenius Kabi because there could be some uncertainty over delisting of company.

Joshi told CNBC-TV18, “I feel tempted to say sell Fresenius Kabi, because there could be some uncertainty over this delisting bit. It seems that the promoters want Rs 130 kind of pricing and if that does not happen then they will sell off. So there could be some amount of uncertainty of what they are going to do to maintain that minimum public floating.”
“Are they going to be offloading the shares or are they going to go for a delisting and therefore at what price? We have been hearing that there could be some amount of turnaround. So if this delisting news had not been there I would have said wait it out a couple of quarters because there is a possibility that the stock could go to Rs 160. Since she has bought it at such an attractive price maybe she should just keep her eyes open for this delisting development and then take a call based on that,” Joshi added.