Aug 22, 2011, 11.02 AM IST | Source: CNBC-TV18

Advanta India can touch Rs 400: SP Tulsian

Advanta India can touch Rs 400 in 12 months, says SP Tulsian of sptulian.com.

SP Tulsian, sptulian.com

Advanta India can touch Rs 400 in 12 months, says SP Tulsian of sptulian.com.

Tulsian told CNBC-TV18, "Advanta is one of the largest in the sunflower, mustard, corn, which are widely used plus they have the global presence in Brazil and Argentina, Thailand, Australia. If you see their Q2 performance, they have December ending and in Q2 they have posted very good results with EPS of about Rs 10 plus, while the EPS on whole of the calendar year 2010 was in negative."

He further added, "I am expecting that after the company having come out with the FCCB issue of about USD 50 million, this is an excellent company. If you really see the price behaviour in this last 15 days or so, it has not really fallen below Rs 250 while it had its top of about Rs 300. So taking this into consideration, if somebody can keep a view of about 12 months, I wont be surprised if share moves to about Rs 400 in this period."

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