Rajesh Agarwal, Director - Research at Eastern Financiers Limited told CNBC-TV18, "One can definitely hold on to NMDC for next one-two years because there are a lot of problems surrounding to the mining industry due to the Supreme Court (SC) ban and all but we believe that going forward, things are going to be taken care of.”
He further added, “The company has a very strong balance sheet, more than Rs 21,000 crore cash with it. It is one of the dominant players in domestic iron ore with mining leases all across, I think it is one of the best play in mining if one wants to be into that. Not to forget the kind of valuations these companies are being traded at, it is only just because of the mining ban which is there. Once these things are taken care of, this stock is going to shoot up like anything.”
“So in the next two years time horizon, I believe this stock can touch Rs 180-190 levels. Definitely it is a hold and if it falls for any reason to the range of Rs 110-115 then one can add to it.”
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