Tulsian told CNBC-TV18, "I am not convinced with the kind of movements we have seen today in Everonn Education because the open offer closed on 31st December, we have seen an acceptance ratio of 58%. The remaining 42% shares are likely to come back to the accounts of the shareholders those who have tendered them may be by tomorrow or day after tomorrow because Saturday is the last date but when you talk to the registrar it is hinted that probably they'll start coming in from tomorrow or day after."
He further added, "Whenever the residual shares comes back they come for selling in the market and obviously I am expecting the selling pressure to come in the market of those shares also and whether this rally can really get sustained. The one factor alone of the FII limit getting hiked cannot really be this cause and I don't think that delisting can really be the reason because you cannot have a comparison with Aptech because Aptech is totally a different ball game where the promoters have clearly said that they are looking to exit from the company next 3-4 months time. So it is very amazing to see the up move Everonn. I was not expecting the stock to move beyond Rs 450-460 I thought that it will take a pause today but that is likely to even if it hits 20% upwards circuit today I don't think this run can really continue for tomorrow and day after."
