May 29, 2013, 08.04 PM IST | Source: CNBC-TV18

Go long on DLF, says SP Tulsian

SP Tulsian of sptulsian.com advises to go long on DLF for June series

SP Tulsian of sptulsian.com told CNBC-TV18, “ DLF - I have not taken a call on the results. It is better that we remain little cautious because for the real estate companies, even if you get to hear that on the ground, company has been making good sales of their upcoming projects but those things are not getting reflected into the accounts because of the threshold of 25 percent project completion and then only they can really go ahead and book the income in the profit and loss (P&L).”

He further added, “We have heard that from DB Realty or maybe with some other companies like Peninsula where since they held back the sale of the completed portion. So maybe some caution can be taken ahead of the results but I am keeping the positive stance. The stock has corrected from Rs 245 to the level of Rs 210. Rs 240-245 used to be the strong level at which it used to really trade. Suppose for some reason if the results disappoint and stock corrects to a level of Rs 205 or even if it doesn’t correct, remains at this level, probably one can take a long position for June series on the stock.”

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