Adani Enterprises has strong support around Rs 250: Tulsian

13869 Investors following Adani Enterpris. Share this News with them.

0

Like this story, share it with millions of investors on M3

Adani Enterprises has strong support around Rs 250: Tulsian

Adani Enterprises has strong support around Rs 250, says SP Tulsian, sptulsian.com.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Adani Enterpris See messages about Adani Enterpris

Adani Enterprises has strong support around Rs 250, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "On a fundamental basis I think Adani Enterprise should settle at around Rs 250 because if you see the value model of Adani Enterprise it was deriving value because of the investments held in Adani Power as well as Mundra Port. Apart from that it had its own core business in respect to the coal trading and in respect to coal mining and logistic business all those sort of things. But its standalone business has taken a hit because of its own reason and the announcements from the management have come that they are not looking for expansion of all these business."

He further added, "The mining acquisitions have come on a hold so what Adani Enterprise is getting the valuation is only from the investments of 75% which they are holding in Adani Power and Mundra Port . If you see now the valuations of the company it is exactly reached to the same point where the investments of both these two companies are valued at. Maybe further fall should stop from here because you can't attribute valuations of merely 500,000 to 2,000 crore for the standalone business of Adani Enterprise so that is the reason I say that Rs 250 looks to me as strong support purely on fundamental basis for the stock."