Hold Bombay Dyeing, Raymond: Rajen Shah

Rajen Shah, Angel Broking advice investors to hold Bombay Dyeing and Raymond for long term.

Shah told CNBC-TV18, “Companies like Bombay Dyeing, Raymond, Century. I think the kind of assets they own and the kind of value they command today in the market is more than the market cap of these companies.”

He further added, “I would certainly continue to hold on to these stocks actually. No doubt the high court order was little negative and the stock has reacted but I think there is nothing much to lose in these companies because real estate prices in Bombay actually continues to be very high and the demand is also reasonable. It’s not as strong as it was about a year or two back. But certainly deals are happening and the kind of assets these companies have I think they should continue to be in strong hands actually, the stocks.”