Wednesday, August 25, 2010

NMDC:FAIR PRICE BELOW 180

Maheshji
I notice [1] ADVANTA and [2] NMDC quite attractive to buy on long term basis atleast TWO years, what are your views ?
Narendra Amin

Narendra amin ji today we discuss only one of your share NMDC1. NMDC LTD is a 1 rupees face value share of mining industries in BSE group A.remember face value of this share is 1 rupees only so if we compare current market price 252 to 10 rupees face value than it is 2520 so share price is very high at currant leval.2. 52 week high of NMDC LTD is 571.8 and 251.05 is 52 week low.3. book value of NMDC LTD is 29.35 book value of share is very low if we compare it to market price of share.4. Promoter holding is 90 %and FII holding 0.42 percent. this is a government of India enterprises and main reasons of high pricing of MMTC and NMDC because very low quantity of shares hold by genaral public so price is increased due to demand supply theory.5. EPS of NMDC LTD is 8.69 so current P/E is 28.99. I think 160-180 is a fair price range for it if we discount it EPS to P/E of 20-257. LIC MF hold huge quantity of this share (please do not ask me source of this point because mutual funds may change there holding in trade)
8. I have no any share of NMDC.

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