Deccan Chronicle can move to Rs 38-40, says SP Tulsian

Tulsian told CNBC-TV18, “Deccan Chronicle news has been floating in the market for the last 6 months and we see every time the stock keep going up. This stock has become a very highly volatile, any kind of news maybe about a month back we saw the stock moving up by 12-15% on the news that they are looking to buy stake in Future Capital , which got fizzled out and again the stock corrected back to about Rs 30.”

He further added, “I don’t really be taking this as a serious stock where the traders can make money with conviction or where one can take a convictional call on the stock either on a fundamental basis or on the technical or as a trading point of view, but yes if the stake sell happens in Deccan Charger, which we have been hearing over the last 6 months then definitely that will be seen as positive because the performance of the company has been taking a beating in the last couple of years and the stock has been languishing. So it needs a big trigger for the stock to move really up and if it happens then the stock price can move to about Rs 38-40.”