Exit Crompton Greaves, says Tulsian

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Exit Crompton Greaves, says Tulsian

Exit Crompton Greaves, says SP Tulsian of sptulsian.com.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Crompton Greave See messages about Crompton Greave

Exit Crompton Greaves , says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, "Crompton Greaves Q3 results are very bad. If you see the Q3 PAT Rs 77 crore is less than Q1 PAT of Rs 80 crore and Q2 PAT of Rs 117 crore. There has been definitely some relief to the market as an aircraft has been sold. It is capable of growing its top-line. I would advise you to move out of the stock at Rs 135."

He further added, "I would advise you to purchase HDFC Warrants which are currently priced Rs 85-86, because we have seen 2 crore share deal in HDFC, the share has slid a bit nearly Rs 685. The warrant which I am suggesting to you which is ruling at Rs 85-86, in August 2012 there is entitlement that per warrant you will get one share for Rs 600. That means warrant is going at Rs 85 premium. You need not fear that in August you will have to pay Rs 600 more, but if you purchase this warrant today at Rs 85-90, I expect in next three months it can go to Rs 110-120, which means there is profit of 20-22% whereas the downside is very limited."