Hold Aptech around Rs 105, says SP Tulsian

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Hold Aptech around Rs 105, says SP Tulsian

Hold Aptech around Rs 105, says SP Tulsian, sptulsian.com.

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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 Aptech See messages about Aptech

Hold Aptech around Rs 105, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Aptech, if you see debt free status, Rs 120 crore cash lying with the company and 22% stake held in the Chinese company, which can give a annual dividend of Rs 40-50 crore, so all these put together should give a valuation of anywhere between Rs 700 to Rs 725 crore to the company and the kind of interest which we are likely to see, all these things converts into a share price of anywhere between Rs 130 to Rs 140 per share, as regards the stake sale I think is almost seen a foregone conclusion that promoters have decided their mind because if you see for the last 3 or 4 years they have really not succeeded."

He further added, "There has not been any value accretion even on the capital account, forget on the performance and all that. So, stake sale is bound to happen which may take - even the process of the stake sale has been given that it is likely to get completed by middle of May. So, taking all this into consideration share has the potential to move up to Rs 105 beyond Rs 105 definitely I will not be taking a positive call and profit booking will be advised. If the valuation of Rs 125-130 is taken as the bidding price by the prospective buyer, the stock does not have the scope to move beyond Rs 105. So, one can ride the momentum. Infact last couple days have seen these kind of upmove seen in the stock. So, hold till Rs 105 and thereafter I think it will be risky to remain invested in the stock."