After recent amendment in Gujarat based companies. The GNFC is having a lower PE of 6 against industry PE of 10, with book value of 585 hence at current market price of 600 it's trading equivalent to its book value with significant cash and cash equivalents.
That's why they have given decent dividend as well. And in coming time say 9-12months there is a high probability of issuing bonus or further good interim dividend. This will propagate it's value to above book value with conservative upside of minimum 20% to 700-750 in an year making its lucrative buy at these level and avg till 535-550.
That's why they have given decent dividend as well. And in coming time say 9-12months there is a high probability of issuing bonus or further good interim dividend. This will propagate it's value to above book value with conservative upside of minimum 20% to 700-750 in an year making its lucrative buy at these level and avg till 535-550.