Marg can move to Rs 115: SP Tulsian

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Marg can move to Rs 115: SP Tulsian

Marg can move to Rs 115 in next one year but with a very limited downside, says SP Tulsian of sptulsian.com.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See what other Experts & Brokerages are saying about Marg See messages about Marg

Marg can move to Rs 115 in next one year but with a very limited downside, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, "Marg has a very interesting portfolio; they are into EPC, construction, reality, engineering projects. They have already started the Karaikal Port, first phase have already been commissioned with capacity of 5.25 million tone of cargo and then they have bit dragging yard, they have ship repair yard, they have two integrated SEZ in townships."

He further added, "If you see the financials in fact you know considering the other companies who are relatively much larger than this company, their financials have really derailed. In fact they have not been able to stick to the financials. They have over leveraged the balance sheet."

"There have been delay in their projects but these all lacunas or weaknesses are not seeing in respect to this company that is why they have been able to post an EPS close to even on a consolidated basis. On a standalone basis the performance has been quite good. But even on consolidated basis with topline of Rs 1000 crore, dividend payment of 20%, EPS of close to about Rs 4-5 so all these things gives a confidence that the share at Rs 80 looks quite reasonably or looks to have corrected a lot."

"The current market cap of Rs 300-310 crore also gives confidence, so amongst the infra space and once we see their renewed buying interest coming in may be some small buying or re-rating have started happening in the select stocks. So Marg could also be seen on the similar lines and once we have the renewed buying interest coming in stock or comes in the lime light the share has potential to move to about Rs 115 next one year but with a very limited downside."