SP Tulsian, sptulsian.com is of the view that Arvind has to move in the range of about Rs 85-95 and keep negative stance on Bombay Rayon .
Tulsian told CNBC-TV18, "If I take an individual call, Arvind has to move in the range of about Rs 85-95. As I have been maintaining, I don't see much upside. It will be difficult for the stock to even breach three digit marks considering the expected EPS of Rs 10.
"S Kumars has taken much more hammering than required. I don't think that their financial performance has been a disappointment. But there were some financing issues. The promoters say that everything has been offered to the collateral. As I said earlier it is not exactly directly in respect to the promoter share but there are definitely in the system the huge amount of shares having pledged and the finance have been availed against that."
"My view on Bombay Rayon is very cautious. Here one has to see the difference between cash and future and option. Future and option is ruling at a discount of Rs 25 and I don't think that that kind of discount is warranted. That means the future view on the stock is very negative. Whenever any kind of news comes in the stock can fall below Rs 230-240. This can be seen as price management but I am not at all comfortable with Bombay Rayon considering the difference in F&O. Cash is ruling at Rs 286, F&O is ruling at around Rs 260, so that's a clear-cut case of negative view on the stock going ahead."
