SP Tulsian reviews Jaypee Infra, Pantaloon, Everonn

Excerpts from After the Bell on CNBC-TV18 Watch the full show » ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Shoppers Stop BSE | NSE 29/05/12 Are Mutual Funds betting on Shoppers Stop? Other Stocks in this news Trent | Jaypee Infratech | Pantaloon Retail | Everonn Education | Sesa Goa | Crompton Greaves | SREI Infrastructure Finance |

SP Tulsian, sptulsian.com in an interview to CNBC-TV18 gave reading and outlook for stocks across various sectors. He evaluated stocks like Jaypee Infra , Pantaloon , Everonn , Sesa Goa , Crompton Greaves  and SREI Infra

Below is the edited transcript of his comments. Also watch the accompanying videos.

On Jaypee Infra

The movement in Jayee Infra has more to do with valuation call. Post land acquisition bill, the company has 5,000 acre of land which they need for making the expressway. They are also holding 6,100 acres of land at five places for development. So in all they hold 11,000 acres of land.

Their Formula 1 race track is well ahead of schedule. The company is also indicating that they are running 18 months ahead of schedule for 165 kilometer expressway. The accrual of about Rs 1,500 crore comes to the company's kitty every year on account of property profits.

The share is now at Rs 45 and has a market cap of Rs 6,000 crore. So that indicates only land is available at Rs 1 crore per acre. As far as the shareholding pattern is concerned, 83% is held by JP Associates, 10% held by institutional investors and 3-4% by HNIs. So 4-5% floating stock of Rs 6,000 crore has spoiled the party.

On Pantaloon

Shoppers Stop , Pantaloon, Trent have all been moving in line with the talk of FDI limits getting released. Pantaloons has always been the highest beneficiary of that. With the news of FDI getting halted the stock has taken a big beating. If one don't see that coming quickly there is no reason or trigger for the stock to move up.

On Everon

I have been seeing Rs 250 as a strong bottom for the stock from hereon. From the past two- three days it has been seeing accumulation or buying by hardcore investors. This is because business model of the company is in place and this has been confirmed by second largest shareholder. This indicates that the stock is seeing renewed buying. But I don't have any cues for this sudden rise of 10%.

On Sesa Goa

If the export tax gets hiked to 30% it will affect the stock. It will spoil the perception for the stock. One can expect it to fall to Rs 210 to Rs 215 levels.

On oil marketing companies (OMCs)

If the news of hike in petrol prices comes in then it is positive for the OMCs. But, I don't see any reason for the petrol price hike from hereon. This is because there is no under recovery on the petrol account.

If the government or OMCs initiate that just to offset under recovery in the diesel or any other sector, I don' think that is a prudent to move on part of OMCs. It will be positive for the oil marketing company. But this move will be seen very negative by the market.

On Crompton Greaves

I have been taking a call that the stock has bottomed out. It has corrected much more than what it deserves. Who else will be a better person to assess valuation of a company than the promoter? They have been buying into the stock, since it was ruling at around Rs 146 to Rs 148 and they have made a sizeable buying. That has seen shorts started getting covered.

I don't think renewed buying has come from anybody other than the promoters or valuation call has been initiated by many brokerage houses. Once the stock breaches Rs 160 then a technical call can start coming on the stock. In my view, Rs 150 looks to be the strong bottom.

Considering their debt free status and expected double digit EPS for FY12, I don't think one should be too much concerned. One can take a call below Rs 150 on the stock. So from hereon I have a positive view on the stock. One can expect a price of Rs 175 by year end.

On SREI Infra

I won't be taking the news flow lightly. In the past whenever there have been such events it reflects into the share price. Kanodia's are promoters in SREI Infra they also promoters in control for Viom. Allegations related to Rs 300 crore irregularities have been made on them.

Today's statement must have saved them and damage control exercise must have been initiated. I am surprised with the upmove seen in the share price. I will not be taking a positive view on the SREI Infra from here on.