Parl stalemate: Not very optimistic about Mon, says Tulsian

In an interview to CNBC-TV18, SP Tulsian of Sptulsian.com informed that they have scheduled this all party meet on Monday to discuss on FDI. He feels that this is seen more as a political agenda and nobody is interested in having a healthy discussion.
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Nov 23, 2012, 09.41 PM | Source: CNBC-TV18

Parl stalemate: Not very optimistic about Mon, says Tulsian

In an interview to CNBC-TV18, SP Tulsian of Sptulsian.com informed that they have scheduled this all party meet on Monday to discuss on FDI. He feels that this is seen more as a political agenda and nobody is interested in having a healthy discussion.

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Parl stalemate: Not very optimistic about Mon, says Tulsian

In an interview to CNBC-TV18, SP Tulsian of Sptulsian.com informed that they have scheduled this all party meet on Monday to discuss on FDI. He feels that this is seen more as a political agenda and nobody is interested in having a healthy discussion.

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SP Tulsian (more)

CEO, sptulsian.com | Capital Expertise: Equity - Fundamental ,IPO

In an interview to CNBC-TV18, SP Tulsian of Sptulsian.com informed that they have scheduled this all party meet on Monday to discuss on FDI. He feels that this is seen more as a political agenda and nobody is interested in having a healthy discussion.

With regards to Hindustan Copper’s bid he is very satisfied and says that this will attract the investors.

Below is the edited transcript of his interview with CNBC-TV18

Q: What have you made of the latest from Hindustan Copper and the kind of bids that it has got? Do you see the demand going through at the indicative price of about Rs 158?

A: I am satisfied with the demand or with the response. I think we have received 1 crore 15 lakhs which constitutes 30 percent of the bids of the size. If you really see 155, that sets a very fair value. That will really attract the actual investors and non LIC. We have always feared in respect to the PSU divestment that LIC will come to the rescue at the last moment. However, this time I am expecting that this is not likely to happen. Even if we have any kind of tepid response, it will be at least close to 2.5 crore shares. I am keeping my finger crossed that I will see the response getting fully met by the non LIC investors of about 3.7 crore shares. So, I am keeping my positive hopes on the Hindustan Copper response.

Q: How worried are you with regards to today’s adjournment and the all party meet on Monday as well?

A: We have scheduled this all party meet on Monday to discuss on FDI. So, definitely the things are going to remain murkier for the parliament to run. I won’t be surprised to see both the houses getting adjourned in the first half or may in the next couple of hours or so.

Coming on the all party meeting, I am not very hopeful. Due to the kind of stance adopted by the BJP that unless and until we have the voting on FDI they will not allow the house to function. So, I don’t think that merely calling an all party meeting can really resolve the dispute or the logjam which has been prevailing. This FDI is not an issue to be discussed by these parliamentarians, in fact this is more an agenda for all the political parties. Ultimately BJP will be using this FDI as a political agenda in the elections of 2014, in the middle class or merchant community which it belongs to.

Similar will be the case by the Congress also that, this has been very fruitful for the agriculturists, farmers and even for rate control and all sorts of things. So, this is seen more as a political agenda. I don’t think that anybody is interested in having a healthy discussion on this. So, BJP will not allow the house to function and Congress will not budge to agree for voting. Even if it does, it is not going to happen for the first two weeks, out of this four week schedule of the parliament. Let’s expect that for the first couple of weeks, we have only seen two days. Yesterday it has started, so may be for next remaining 8-10 days we are going to see the same drama of houses getting adjourned with nothing getting transacted.

Q: What is your view with regards to Asian Paints , which is the top gainer of the Nifty or in general accumulation of more defensives at current levels, would that be a prudent strategy?

A: Asian Paints is an excellent stock. I sometimes rate this stock better than or secure than HUL , ITC or maybe for any other IT stocks. If you see the consistent performance of the industry, I think paint industry is the only one, which has given a top-line growth in double digit for the last two decades. Obviously Asian Paints being the leader in that space because there are very few players available.

There are only five companies in the paint space, which are into the listed sphere. So, obviously the share remains defensive or the most precious investments by any investor. Anyone can use the dip to buy the stock. I don’t think that when the stock moved by Rs 50-70 that’s a right day. One can wait for the stock to correct and can just buy the stock even for a view of three to six months or years.

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