Orbit Corp may slip to Rs 30: SP Tulsian

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Orbit Corp may slip to Rs 30: SP Tulsian

Orbit Corp may slip to Rs 30, says SP Tulsian, sptulsian.com.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Orbit Corporation See messages about Orbit Corporation

Orbit Corp may slip to Rs 30, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "I have my lot of concerns on Orbit Corp. The marketcap is of Rs 500 crore, debt in the books of the company more than Rs 1000 crore. They are more active in the redevelopment in the South Bombay where their projects are not getting cleared. They have a huge liquidity crunch, even the 77% of the promoter's stake. They have 47% stake in the company's pledge."

He further added, "Yesterday there was some news or fear of some pledged shares getting sold. I think the liquidity loss, the loss of business and all this problem going to persist for the company in 6 months or so and the valuations can deplete further. I won't be surprised to see price falling to Rs 30."