I have a solid report on it which i will read on weekend
I do not know official and not expected price band and hence do not know valuations.
So any judgment before that is futile
Give me that detail then i can analyse
Personally I am not Interested In Coal India
That doesnt mean it is not a good buy for listing gains
I am a long term guy
I am not a believer of buying a coomodity stock in Bull markets when their cycle is in Boom
Well some government IPOS AND FPOS WERE NOT BAD
Look at ONGC REC OIL INDIA (RECENTLY) Engineers India FPO etc.
Next IPO Mr. Toshniwal I am waiting for is:
JUST DIAL
A2Z Engineering and Maintenance I always buy commodity stocks during crash or big correction like 10-20% correction
The only two commodity stocks I am or will hold
is
Currently I am holding Jai balaji Steel bought at 180. It is a multibagger that i bought cheap and plan to buy only below that price and not at CMP of 250-260 odd
And Electrosteel IPO that i will buy part now coz its fair value is 14.70
ANd balance 50%
in stock market correction to the tune of 30-40% that I expect in April 2011-June 2011 or march 2012 to the most.
Then i will buy may be
Tata Steel at 200 in 2008-09 or recent 450 or 360 odd in August or September I cant remember in 2009.
Than buying it at 700+ or current 650 now
Commodity stocks are High beta and should be bought in downcycles and sold in upcycle
Same is for PSU Banks (except some turnaround stories)
BUT IT IS A LARGE SIZE HIGH PROFILE IPO
AND MY CLIENTS WILL BE INTERESTED IN MY RESEARCH ON THIS ONE FOR LISTING GAINS OR LONG TERM
So if i get knowledge of Official price Band that you can provide I can analyse and tell you
Regards and I hope I gave you my reason for not Buying Coal india
What’s ur strategy on Coal India Issue. Most of the PSU’s got listed below issue pries or might not have given enough return like NHPC, SJVN, NMDC, NTPC, POWER GRID etc except OIL INDIA, REC, EIL.
I am thinking that I must sell one application in gray mkt if I finds KOSTAK rate above 4000/- and keep another one to sell while on listing