Tater told CNBC-TV18, " National Mineral Development Corporation (NMDC) is one play where we feel it is roughly 31 percent undervalued given to global peers. This could be a very interesting bet from next six months perspective. Now there are positive developments from index management perspective and since this is going to get included in April, we feel there will be lot of momentum in the stock in days to come."
He further added, "On risk reward side, we feel there is hardly any downside. If I take a quantitative call that we have been projecting for so many stocks, which we have been going right on either side, we feel this is one stock which has made a double bottom around Rs 143 mark on weighted average price. If you see the management guidance, they are looking for an uptick in the March realisation and we feel there will be a follow-on uptick even in April. Thus, realisations should go higher from current levels."
"In fact, for next fiscal we are forecasting a sell of approximately Rs 10,300 crore with a net profit margin of 64-65 percent. That could be substantially good for this particular company because if they are able to clock that Rs 7,500 crore of profit, we feel on a marketcap of Rs 60,000 crore, given it is a debt-free company that stock should trade at least at Rs 75,000 crore sighting 25-26 percent upside from current levels."
"We are giving a target of close to Rs 185 on this particular stock and given all these positive developments that has been announced and index inclusion, the stock is likely to see an expansion in terms of price earnings multiple, which will be definitely good for company in days to come."
Disclosure: No personal position but safe to assume that stock discussed has been recommended to clients.
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