Nov 08, 2012, 07.58 PM | Source: CNBC-TV18
S P Tulsian of sptulsian.com says if SAIL's results are a reflection of Tata Steel's numbers, then they too could post very poor numbers.
SP Tulsian (more)
CEO, sptulsian.com | Capital Expertise: Equity - Fundamental ,IPO
Below is the edited transcript of Tulsian's interview with CNBC-TV18
Q: What do you make of the numbers that SAIL reported?
A: These are very poor numbers. Infact, if you compare it on a year-on-year basis, inspite of the Rs 500 crore exchange loss in the corresponding quarter of the previous year and if you see the gain, those are really very poor numbers. Apart from that, if you see the interest income and the interest expenditures, inspite of the netting off, the results are really very bad.
If that is giving us an indication that probably Tata Steel could also post their numbers on similar lines, then those too could be very poor numbers. As regards to SAIL, they have posted very poor numbers.
Q: How would you approach Tata Motors going forward now?
A: There is slight disappointment on the numbers. I am not too convinced with the prices at which it has been ruling, because I have been taking the call at Rs 275-276 or maximum Rs 280 where the profit booking was expected.
In some of the stocks; where we have been seeing irrational of contradictory behaviour like we have seen in the PSU banking sector, inspite of the poor numbers, many stocks have been going up.
It is strange and surprising for me to see Tata Motors ruling in positive today, because I am not too convinced with the numbers. Maybe JLR has really posted good numbers in this Q2, but going forward one cannot be really safe. So, entering into the current level even as a trader in the stock, may be a little risky.
Steel Authority of India Ltd has informed BSE that
Ramp-up of production from the new units is not on
The meeting was also attended by SAIL Chairman P K