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Jun 08, 2012, 05.53 PM IST
Renewed buying and short covering is seen in Sun TV, says SP Tulsian of sptulsian.com.
Renewed buying and short covering is seen in Sun TV , says SP Tulsian of sptulsian.com.
Tulsian told CNBC-TV18, "Sun TV, we keep getting this digitization news again coming on and off because earlier it was expected that probably likely to get extended by maybe a month or so from 30th June and then we are seeing the renewed interest coming back into the Dish TV and Sun TV also, because of the shortage of the set top boxes and the forced move on part of the subscribers to go for these companies also."
He further added, "All these combinations are leading and actually the reason could be attributed more because of the short covering. If you see the stock having steeply corrected in these last two weeks or so, so obviously we are bound to have the combination of both, the renewed buying coupled with short covering."
"In one stock I have found in case of India Cement where the rallies are not sustainable. Whenever we see some upsides coming in and again it fizzles out and today because of this name of the Jagan scam and all kind of things. One have the apprehensions remaining on the stock and apart from that the overhang of the CCI order which still probably is awaited in next couple of weeks which will also be mildly impacting though that will be impacting largely more to the larger players like ACC, Ambuja Cements or Ultratech, but that will have its reflection in shadow on India Cement as well. So because of that the share is ruling weak."
May 21 2013, 13:56
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