United Phosphorous can move to Rs 145- 150: SP Tulsian

Tulsian told CNBC-TV18, “On Manappuram the buy call was given from Monday onwards when it was ruling at around Rs 26-27 with a price target of Rs 35-36 which was achieved yesterday and from hereon it is very difficult to take a call that how much profit booking can really come in.”

He further added, “We have not seen any speculative buying happening in the stock. The run up or the surge has purely happened because of the investment base and the interested circle buying into the stock. But they also come for quick profit gain, if they are getting a gain of about 30-40% in a week it is obvious that the profit booking will be made. So I will be weary of taking entry into the stock at these levels and I won’t be too comfortable.”

“United Phosphorous seems to be more a stock from 2-3 months horizon. If you see its subsidiary, I won’t call it as its subsidiary, but the company having 49% stake they have in Advanta is doing very well and I am holding positive view on that. So that can start contributing quite significantly to the stock. But yes, from a trading perspective one can only look for a gain of about Rs 6-7, but if somebody can keep a view of about three to four month the stock can make a move to about Rs 145-150.”

Disclaimer: I have holdings in HDFC Warrants. Other stocks discussed may have been recommended to clients.