Sep 04, 2012, 10.44 AM | Source: CNBC-TV18
Buy JSW Steel, says SP Tulsian of sptulsian.com.
SP Tulsian (more)
CEO, sptulsian.com | Capital Expertise: Equity - Fundamental ,IPO
Tulsian told CNBC-TV18, "For JSPL maybe from a fundamental or investor point of view I will look at Rs 300-310 but the regulatory move or actions remains a overhang. But I am very bullish, very positive on JSW Steel from current levels. Because I don’t see the merger of JSW Ispat to be so negative because of some favourable points like JSW Steel to increase their stake to 15%, they will be bringing an additional fund of Rs 1500 crore; the tax benefit and the people have been talking of absorption of loss of JSW Ispat."
He further added, "As such the losses were booked to the extent of 48% being an associate share of the company in the consolidated results. So I am keeping my positive view on JSW steel, if it corrects to about Rs 650-660 that makes a very good entry point but even at current rate of Rs 660 I will be comfortable buying it."