PSUs are hindered by the fact that the decision making is going to be dictated by officials who do not really care about other stakeholders? The government is a big stakeholder by itself. We should temper down the valuations, though the business is fine, says Deepak Shenoy, Founder, Capital Mind.
After market hours yesterday it came out that IRCTC NSE -7.42 % would have to share 50% of its convenience fee with the government which basically meant one was looking at a 50% depreciation and fall in its earnings. That decision has been withdrawn. What is this going to mean for IRCTC? The stock is recovering but the bigger question is has the nervousness of investors been taken care of?
