Tuesday, July 10, 2007

Exit Akruti Nirman.....looks a little bit expensive..

Mehraboon Irani of Darashaw & Company is of the view that one can exit Akruti Nirman at present level.

Irani told CNBC-TV18, "Akruti Nirman, a real estate play, mainly focusing on Mumbai market, which is now ruling pretty high. As per the prospectus, they are executing thirty-five projects, the market value of which they stated was around Rs 4,000 crore, so the marketcap is around Rs 3,200 crore right now. The IPO according to me was priced very aggressively; I think it was rather expensive, even at the present levels, so it is not a stock, which attracts my attention because the valuation even now looks a little bit expensive."......Moneycontrol India :: News :: Exit Akruti Nirman, says Irani :: Akruti Nirman :: Stocks Views :: Mehraboon Irani of Darashaw & Company,Akruti Nirman

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