Go long on Maruti Suzuki around Rs 1060: SP Tulsian

Tulsian told CNBC-TV18, “ Geometric , now the profit booking should come. The results have been quite good. They posted a PAT of Rs 20 crore plus against maybe Rs 13 crore on the comparable period. But I think the stock has seen a good run up. Now I will take a little cautious view on the stock.”

He further added, “Maruti Suzuki, I was taking a call that Rs 1060 looks to be a good level where the entry can be made by the short-term investor or by the traders, but considering the situation, which now we have been seeing definitely the situation is going to worsen or maybe the effect of the production loss, the effect on the profitability is all going to happen, but I think that now the stock can correct, but maybe holding the level of Rs 1000. So, as of now I will keep my target of Rs 1060 only for the traders, may not be for the short-term investor, traders can look to create long position at about Rs 1060 in August series.”