Hold RCF, may test Rs 70: Phani Sekhar

Written By Unknown on Senin, 20 Oktober 2014 | 18.01

Phani Sekhar, Fund Manager-PMS at Angel Broking is of the view that one may hold Rashtriya Chemicals and Fertilisers as the stock may test Rs 70 in next 12-15 months.

Phani Sekhar, Fund Manager-PMS at Angel Broking told CNBC-TV18, "On Saturday any indication of reforms to come then I am sure more will come in the fertiliser sector as well and  Rashtriya Chemicals and Fertilisers will be a prime beneficiary there."

"Valuations at this point in time are not making great sense because the fundamentals are not really in place. I think over a period of time fundamentals will improve, it is a conviction call that you have to take over the longer term. So if one has a moderate risk appetite then a price of Rs 70 is possible over the next 12-15 months if reforms do take place. So, on the balance I would advise to hold for the long term, "he added.


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