Anish Damania, CEO of IDFC Securities told CNBC-TV18, "In case of Nava Bharat Ventures, if you will notice their Indian operations are fairly decent. It was their international operations which was causing a bit of flutter and those were fairly large in terms of the balance sheet size and today what we have seen so far is that they have already done the financial closure of those projects. They have already invested 80 percent of the amount which was expected to be invested and over the next six to nine months this project will now start coming on stream.""As soon as it comes on stream and our confidence is that it will come as the financial closure just got completed so when you are 80 percent project complete and the financial closure has been completed by international lending agencies then there is a lot of confidence that this project is expected to go forward. This was one of the biggest concerns which was weighing on Nava Bharat. We are taking a leap of faith and saying that look if this comes about then you have a double or triple in this company whereas the worst is already discounted. So, we have a base and we have an upside left, so this stock in the smallcap space we found it extremely interesting," he added.
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