Mercator has potential to move up to Rs 24-25: SP Tulsian

Tulsian told CNBC-TV18, “In case of Mercator again their overseas subsidiary, the talks are going on of maybe the monetization of part of the assets and I don’t know all kind of unsubstantiated news are coming in. But the kind of hammering we have seen into the stock, the kind of market cap of these companies prevailing, I won’t be keeping my positive stance on Shipping Corporation though it has run up considering the huge losses company has posted in Q4.”

He further added, “Mercator having corrected so much and the kind of buying having seen initiated yesterday and today this can make the stock to move on the lines of the Manappuram Finance where at least the stock has potential to move up to Rs 24-25 maybe swiftly in next three to four days and then the profit booking may come at those levels. So one can still play on in Mercator for a gain of about Rs 2-3 from hereon.”

Disclaimer: I have holdings in HDFC Warrants. Other stocks discussed may have been recommended to clients.