It is still cheap. Expensive or cheap is a comparative thing. Compared to the other PSUs, and many private companies it’s earning is not really discounted. I have made some investment in this, Chennai Petro and IOL.
All three have risen substantially but to me still there is a lot of value left in these. Specially Chennai has impressive ROE & ROCE.
I am also hoping those who missed the bus in the Railways are going to make a beeline for these.
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