GTL may move upto Rs 60, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "GTL, GTL Infra , one it is valuations because we have bee talking on that and actually at that time I indicated that probably at Rs 70-75 the stock could settle for GTL because I am not giving too much importance to GTL Infra because that's the residual valuations getting derived from there. So in the process it has corrected a lot. Then there has been news flow that probably some PE investors, the block of some PE investors can look to acquire the tower assets of Reliance Infratel as well of GTL, so that gives positive indications and since the 29% stake has been acquired by ICICI Bank in GTL, obviously they will be anxious and they will be keen to see that deal go through for acquisition and if you have 32000 or 32500 towers in the fold of GTL and 50000 or may be 52000 in Reliance Infratel it makes sense for a larger player in because they can have the portfolio of close to about 85-90000 towers."
He further added, "So may be on that hopes but I don't think that this has much upside to go beyond, this could just be taken as a technical move that no fresh shorts are getting seen or may be the deliver base seems to have got over, so it could move to the extent of Rs 60 also but it seems that Rs 50 has been seen as the bottom for the stock."
