Hanung Toys has potential to move upto Rs 120: SP Tulsian

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Hanung Toys has potential to move upto Rs 120: SP Tulsian

Hanung Toys has potential to move upto Rs 120, says SP Tulsian, sptulsian.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Hanung Toys See messages about Hanung Toys

Hanung Toys has potential to move upto Rs 120, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Last month we have seen the margin call pressure eroding the value of so many stocks. Probably Hanung Toys also falls in that category. But yes if I take a fundamental call on the stock with expected EPS of close to about Rs 40- 42 even in the given circumstances for FY12 and factoring in their H1 results then the share was available at a PE multiple of 2 but I won't solely call it as a technical factor or attributed to any news of warrant cancellation or may be the hold on the equity dilution plans because these kind of moves in fact we see in these kind of stocks purely by the informed buying or we may call it by the market making element close to the management circle and all sort of things."

He further added, "The stock has potential to move to about Rs 120. And again we will see the sharp profit booking coming in. So sometimes you would feel that the insiders are playing in a big range because ultimately they are aware about the direction of the stock price to move because they know that when they will get out again the share will fall to Rs 80. So these are really very risky stocks for the short term traders but yes if you want to take a call they have the textile division, they have the toys division, both are contributing 50-50% to the top line and bottom line and as I said that if you rely on the earning estimates of Rs 40-42 probably one can but I won't advise the share to buy at these levels even for a short term trading point of view."