Manappuram Finance has target of Rs 40: SP Tulsian

Tulsian told CNBC-TV18, “Manappuram Finance, I have been keeping a view of about Rs 35 for next one week or so. This more or less seems to have been achieved, but I see good upside, may be if somebody can keep a view of about couple of months then price target of Rs 40 is likely.”

He further added, “There are no credible mid cap pharma stocks available. If you really want to really choose that can you take a call on Aurobindo Pharma or maybe the Wockhardt because I am taking the market of Rs 5000 crore as a criteria for placing them in the mid cap, but I see that Wockhardt definitely I have been having a positive view since when it was ruling below Rs 300 in the month of January where the buy call was given, but now I see more of a trading play happening in that stock. So one can really look for Aurobindo Pharma in that space if you really take a call on Ajanta Pharma also again you see some kind of trading momentum happening in that stock.”

“ Ranbaxy looks a very good stock from a long-term point of view. Cipla looks a good stock from the long-term point of view, but both these stocks Cipla and Ranbaxy falls in the larger cap category with a market cap of Rs 25,000 crore plus. So, there are a very few spaces available in the pharma space and I won’t be again too gung-ho on the mid cap IT stocks across the board, maybe some selective buying call can be taken on the stocks like Hexaware from a stake-sell point of view, maybe Polaris having some value seen or maybe the Rolta where the renewed trading interest is likely to be seen in the next week or so. So again one can pick and choose in the IT space on a selective basis.”