Friday, 14 November 2008

Exit TTML above Rs 24-25: R Shah

Rajen Shah of Angel Broking is of the view that one can exit TTML above Rs 24-25.

Shah told CNBC-TV18, "One should offload TTML in open offer. It reported about Rs 500 crore of loss in March ’06 and about Rs 250 crore in March ’07 even last year it reported about Rs 150 crore this year also its going to report about Rs 75 crore or Rs 80 crore of net loss. So fundamentally TTML was never worth more than Rs 20 but it was only because Tata Teleservices was holding about 65% stake in TTML that was keeping the stock in action. Right now one may just hold it and maybe if there is a good rally in the market and the stock goes beyond Rs 24-25 levels then he/she can offload the shares otherwise its better to tender in the open offer."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.