Jagannadham Thununguntla, Strategist & Head of Research of SMC Global Securities told CNBC-TV18, "I feel the offer for sale (OFS)-related overhang will remain on Coal India. Even Children's Fund are selling the stock because they have been battling with the government on various issues and still they must have thought that there are lots of bureaucratic issues in the Indian public sector undertakings (PSU) set up."
"All in all I feel that till the time OFS comes, the upsides are fairly limited. Having said that it is a good company, it makes definite sense to buy in OFS, probably if it comes around Rs 280. I think that is a decent price to get into the stock," he added. Also Read: Signing FSA with CIL possible as early as Friday: NTPC
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