'Infra to be one of the top performing sector'

Arun Kejriwal, founder, Kejriwal Research and Investment Services talks to Krishna Merchant on the trend ahead for the markets.

Wish you a Happy Diwali. Coal India made a stellar debut yesterday. What levels do you see it consolidating, and what are the next triggers for this stock?

Coal India has beaten expectations. There was some sort of euphoria as concerted buying was seen from some institutional investors on back of high volumes of 671 million shares, which was more than the size of the issue. I have not seen such high volumes for Adani Power or NHPC issue.

If the stock consolidates around 310-320, it will be a good thing for the share and the markets.

I do not see any triggers in next five-six months for Coal India, as they are not looking at raising prices. They may revise their wages for workers next year and increase their prices. I expect a growth in profit numbers.

Do you see this kind of euphoria continuing for the upcoming Power Grid Corp. follow-on public offer in November?

The investor interest in Power Grid Corporation will go up after the kind of money they have made in Coal India.  Whether it will generate this kind of euphoria or not will depend on the price of the FPO.

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