Remain invested in Wockhardt: SP Tulsian

Tulsian told CNBC-TV18, “Wockhardt results looks quite exciting because if you see the EPS of Rs 35 for the quarter obviously you are bound to extrapolate and take a very positive call, but the kind of run up, which we have seen in the stock and having recommended the stock at Rs 300 in the month of February, obviously sometimes you get a little cautious and maybe the three digit figure could really be a good entry point because generally whenever we see the profit booking coming into the stock it gets corrected maybe about Rs 50-60-70.”

He further added, “If one takes the financial performance for Q1 having posted by the company this seems to be the peak of the company’s performance. I don’t think that in Q2 one can really expect the growth in their overseas operations, whether you talk of US or maybe the other subsidiaries, which they are having in Europe and all sort of best things have got factored into because the nutraceutical division got sold in this quarter where they have received the entire consideration, settlement, curtailment of the losses. So, I will be little - keep a hold on the fresh entry into the share price. Those who are holding it can remain invested, but those who want to make a fresh entry can get a price of maybe in three digits, which will make a good entry point.”