VSNL moved with good volumes after the government has accorded final approvals to the de-merger scheme and reportedly will bear all stamp duty (transaction) costs arising from the de-merger which was a major issue between GOVT & TATA now it is being resolved, and as per many reports VALUATION of real estate per share comes near rs.200 as a conservative figure whereas rs.300-rs.400 also can be possible if GOVT can deal efficient as per reports. Real estate 773acres of surplus land- real estate in Delhi -70 acres in Greater Kailash and 58 acres in Chattarpur--- Dighi property in Pune- 524 acr
es. And the major clarification= Current shareholders will also benefit, all shareholders of VSNL barring the major shareholders the TATA group.Conclusion:
Value unlocking can give share holders of VSNL a share in VSNL telecom which is a TATA group and a share in VSNL real estate which at a minimum value of rs.200 which GOVT should take forward. Simple calculation at closing price rs.432 less rs.200 unused real estate VSNL telecom stock stand at rs.232 with a trailing EPS 15.44 P/E stand at 15 with book value around rs.195 looks attractive for a long term (this is my understanding after reading many reports so investor should take there own informed decision)
No comments:
Post a Comment