Renowned market expert Arun Kejriwal on Monday said that investors may consider taking fresh positions in recently-listed Ceigall India Ltd shares. "Gurugam-based Ceigall India is a road-construction company. It had issued shares at Rs 401 apiece. It is currently available at Rs 391-392. At present, it offers an attractive investment at this price. Post-listing, it has received two orders, one is to develop the Kanpur Railway station and another to develop a metro network," he told Business Today TV.
"All of these are better opportunities for a company as the road development is more or less straightforward work but the metro work involves overheads. It increases your margin and your scope of work is much more difficult," he added. Ceigall India shares were last seen up 0.14 per cent at Rs 393.65.
He picked PNB Housing Finance Ltd as his top pick from the housing sector. "The housing space seems to be doing well. We've seen some stocks correcting, LIC Housing for example. On the other hand, PNB Housing -- which is one of my picks -- has been doing exceedingly well. There was one round of selling in this stock by a PE investor, which now means that more than a third of the stock has changed hands in less than six months," Kejriwal stated. PNB Housing's stock was down 0.15 per cent at Rs 822.55.
When asked about another recently-listed entity, Ola Electric Mobility Ltd, the market specialist said, "If you look at the current market price, the stock is almost 95 per cent higher than the issue price of Rs 76. The company has launched (EV) motorcycles and came out with a sweet spot, beating the lowest price (the mass market) by announcing a price of around Rs 75,000. It is a great strategy where you are crashing the barrier. The price goes up for other premium (EV) bikes from Rs 1.25 lakh to Rs 2.5 lakh. These four bike launches, bookings openings with delivery slated to commence Diwali 2025, all point to plenty of good news coming from Ola Electric."
Kejriwal also said, "The company has declared its June quarter results and the positivity that comes out is that they are now near breakeven on the EBITDA front, if you don't interest and depreciation in the company's financials. Going forward, Ola has also announced that batteries, which they're making, will be supplied in its EV scooters and motorcycles effective April 2025. The company is likely to become EBIDTA positive once the battery is also supplied with EVs." Last checked, Ola Electric's counter was locked in its 10 per cent upper circuit limit of Rs 146.03.
Separately, the market veteran suggested to market participants that there are a lot of concerns in the metal space and stocks from the mentioned segment are super-volatile.