Astec Lifesciences may test Rs 150-200: Tulsian

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Astec Lifesciences may test Rs 150-200: Tulsian

Astec Lifesciences may test Rs 150-200, says Investment Advisor SP Tulsian.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Astec Life See messages about Astec Life Astec Life BSE | NSE 10/02/12 Are Mutual Funds betting on Astec Life?

Astec Lifesciences may test Rs 150-200, says Investment Advisor SP Tulsian .

Tulsian told CNBC-TV18, "In Astec Lifesciences on fundamental basis, no premium is expected but if the operator comes into the play, you can see the price going even Rs 150-200. The issue of the company is not that bad but it does not deserve a valuation of more than Rs 65-70 while the company has made an issue at Rs 82. We all know that issue has just been managed qualified institutional buyer (QIB) and high networth individual (HNI) category have the investors in single digit. Maybe in HNI category you have eleven investors, in QIB you have 5-6 investors, so we know the fate of these kind of issues that how they get cornered by the so called operator or by the informed circle and then we see share prices ramping up."

He further added, "We have been seeing that fate happening in case of Thinksoft which has not been able to mobilize at Rs 110 or Rs 115 but now ruling at Rs 300. So if you have that kind of momentum play, it can go anywhere but on fundamental basis if you ask me, it does not deserve a valuation of more than Rs 65-70 on the secondary market."