Tulsian told CNBC-TV18, "Emkay Global has made their strong presence with about 350 retail outlets catering into the debt and equity broking segments. Also they have made their presence as wealth management, merchant banking and insurance broking. There has been improvement in their financial performance because their FY09 performance was not good but for FY10 if you take a call for the first nine months they have clocked a topline of about Rs 90 crore, hopefully they should end the year with the topline of about Rs 130 crore."
He further added, "The company has networth worth about Rs 130 crore but the news, which is coming in that promoters are keen to sell their stake and maybe the Rs 350 crore valuation is being asked for and now the company is ruling at a valuation and market cap of about Rs 280 crore, so if I go by those parameters and take accordance to the news or rumors, there is a little more upside maybe to the extent of 20%. My today's target is Rs 126."
At 10:44 hrs the share was quoting at Rs 118.00, up Rs 3.35, or 2.92% with volumes of 47,655 shares. Market capitalisation stands at Rs 286.99 crore.
The company's trailing 12-month (TTM) EPS was at Rs 3.10 per share. The stock's price-to-earnings (P/E) ratio was 38.06. The latest book value of the company is Rs 51.96 per share. At current value, the price-to-book value of the company was 2.27.
