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May 30, 2012, 05.25 PM IST
SP Tulsian of sptulsian.com is positive on S Kumars Nationwide.
SP Tulsian of sptulsian.com is positive on S Kumars Nationwide .
Tulsian told CNBC-TV18, “S Kumars Nationwide, upside which we have been witnessing in the stock has largely come because there has been a news that Rs 35,000 crore debt of the textile sector is being recast by the banks. But if you see the financial performance I think they have been consistently posting the bottom-line and if you see it’s quite linear, the Rs 3.30-3.50 EPS every quarter on an annualized basis.”
He further added, “They post an EPS of close to about Rs 13-14 which is likely to get maintained, what they have posted for previous three quarters. I don’t think that there will be any negative surprise on that or there will be any positive as well. The debt always has remained a big concern for the stock, but I am maintaining my positive view because the kind of erosion we have seen in the share price and as I said that if you have an EPS of close to Rs 13-13.5 and if the share is ruling at a PE multiple of 2.5 which is least amongst the sector. So I think that positive is because of mainly the textile recast, debt recast news which we saw in the morning.”
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