Jewels in govt crown give returns of up to 500% on OFS bets

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OFS in state firms returned between 25 and 500% in 11 companies of the 17 in which New Delhi chose this route to dilute ownership..

Only one offer is presently trading below OFS price.AgenciesSimilarly, Ircon International, Bharat Dynamics and IRCTC have given returns of 243%, 205% and 154%, respectively...

Mumbai: Conventional wisdom might argue against investing in offers for sale (OFS) in state companies given the unknown impact of oversupply..

"Markets have slowly started to recognise the potential and execution of PSU companies, which were once frowned upon due to their operational inefficiencies, weak corporate governance and red tapism," said Manish Chowdhury, head of research at StoxBox..

"Being in economic-centric sectors, selective PSU companies still offer valuation comfort, possess strong revenue visibility, have good execution track records in the past few years and offer an additional comfort of good dividends."..

Full story at Economic Times | 

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