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What is the road ahead for IFCI?

What is the road ahead for IFCI? (CNBC TV 18- moneycontrol.com) IFCI has called off its stake sale plans completely, after the deal with Sterlite-Morgan Stanley fell through, on management control reasons. CNBC-TV18 Analyst Sajeet Manghat comments on how should IFCI be approached in terms of valuations and what to do with the stock from now on.
He said that we are back on the drawing board, as to the valuations of IFCI, especially after the stake sale was called off. The stock has been hammered in the market today. That is primarily because a lot of people have taken positions in the stock, in anticipation of strategic investors coming in or of an open offer coming in. It may also be in anticipation of a multilateral agency, like IOC, coming in and picking up stake, up to 10%. But that is not going to happen anymore and that is the reason why the stock has fallen today, he stated.
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