Brigade Enterprises an investment bet: SP Tulsian

Tulsian told CNBC-TV18, “Brigade Enterprisesare the quality developers and I have always been keeping my positive stance. If you take my view for the last couple of years, but for some reason or the other the stock has not been moving because when I have seen their projects on the grounds they have been carrying good name, good reputations, you can call them as the Oberoi Realty of Bangalore and they have good number of properties into their fold, combination of all whether you talk of the shopping mall, commercial, residential, integrated, hospitality and all sort of things.”

He further added, “They have gone maybe little far and some of the properties needs to get monetise and need to get exit by them, but yes, this is on a fresh news of their buying property of Hindustan Unilever and that seems to be a trigger for the day, but I won’t use this kind of up move for making an entry. Overall I am maintaining my positive view on the real estate sector, now specially the stocks, which have a presence in Mumbai, NCR and Bangalore regions. So with that view one can keep the stocks on the radar and as I said that I won’t be taking this as an entry point, but whenever it corrects back to about Rs 50-52 probably these investors can only look to and my caution for all the traders is that don’t jump to the stock now at these levels because you may find yourself getting stuck at the higher level. It may show a run up to Rs 60, but then the profit booking can also come swiftly and make it correct to about Rs 50-52 where it makes an ideal entry point.”