Mar 28, 2011, 04.10 PM | Source: CNBC-TV18
Sterlite Technologies can test Rs 65-66, says SP Tulsian, sptulsian.com.
SP Tulsian (more)
CEO, sptulsian.com | Capital Expertise: Equity - Fundamental ,IPO
Tulsian told CNBC-TV18, "Sterlite Technologies had bad quarters for last two quarters and all that. But since then, in fact the stock has, in my view sometimes I feel that it has taken a beating beyond proportion. I donít think that it deserves a valuation of Rs 50."
He further added. "The second comparable stock with this company is Apar industries . In fact, if you see the movement in the Apar industries, the share has moved in last 15 days by 15-20%. So there was no reason to Sterlite Technologies to languish at around Rs 50 and may be taking cues from the upsides seen in the share price of Apar Industries as well as the value buying at Rs 50, because you have virtually no downside risk in Sterlite Technologies beyond a point. So may be this is coming back and I wonít be surprised to see Sterlite Technologies moving close to about Rs 65-66."
He further added, "I am positive on Aurobindo Pharma but it has moved the moment you see it moving beyond Rs 200, you see the trading profits or may be the traders those who have bought it at lower level, booking the profits. So I donít think that beyond Rs 200, one should really think of entering into the stock. But as a trading stock, I think this is an excellent stock one can keep buying at Rs 190-195 level and look to exit over Rs 200, because it shows a lot of volatility and since it has corrected today, below Rs 190 this is a right opportunity to buy the stock and look for a level of Rs 190-200 in next one week or so."
Sterlite Q3 net surges 82% to Rs 42 cr on higher revenue
Sterlite Technologies Ltd today reported around 81
Odisha project to add Rs 135 cr to EBITDA: Sterlite Tech
In an interview with CNBC-TV18, Anand Agarwal, CEO
Sterlite Tech up 4%, arm wins transmission order in Odisha
"For Common Transmission System for Phase-II Gener
HCL Technologies may move to Rs 1100, says Jai Bala
Jai Bala of Cashthechaos.com feels that HCL Techno
Technology rout pushes Nasdaq to lowest close since 2014
The Dow Jones industrial average fell 211.61 point
Balurghat Technologies' board meeting on February 12, 2016
Balurghat Technologies Ltd has informed BSE that a
Commex Technology's board meeting on February 13, 2016
Commex Technology Ltd has informed BSE that a meet
Camson Bio Technologies' board meeting on February 10, 2016
Camson Bio Technologies Ltd has informed BSE that