SP Tulsian of sptulsian.com told CNBC-TV18, "The hangover of the offer for sale (OFS) will continue to remain on Coal India. Lot of confusion is prevailing, whether the company will go for share buyback or one-time dividend declaration. Eventually if the government opts to go for the OFS in tranches they will not be able to divest 10 percent and if the government is really talking that specified undertaking of UTI (SUUTI) divestment is not likely to happen in FY14 then they have to fall back on the Coal India to garner or to mobilise that larger chunk of the divestment target for FY14."
"One can easily get trapped, because generally whenever that news flow comes in, the stock corrects by about Rs 15-20 in a day. So I will remain away from the stock," he said. Also Read: Coal linkage panel allows Lanco Babandh to ink FSA with CILDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
