NMDC looks attractive, says PN Vijay

NMDC is looking attractive at current level, says PN Vijay, askpnvijay.com.

Vijay told CNBC-TV18, "NMDC is a decent issue in the sense that the government unlike Bharti Airtel will rather circumspect about the pricing. We have always had problems with the government not with the quality of the issuer, but about the type of pricing they have been doing, Coal India was a case in point of course and then we had ONGC. The history is well known to us.
He further added, "NMDC is attractive. It is a well run company with rich reserves. The share has fallen a lot. If you looked at it about two years ago, it is less than half the price if I remember right and we are probably getting into NMDC at the start of some sort of a recovery in the Indian economy, which means more demand for iron ore and also Chinese economy appears to be sort of bottoming out, so these are two rather macro favourable factors. So NMDC deserves a good recommendation. I do not think you will get fireworks in the stock post-listing like you get in some of the smaller companies, but surely a strong stable stock and probably a right moment to enter."