SP Tulsian, sptulsian.com shares his view on IFCI and Hotel Leela .
Tulsian told CNBC-TV18, "The kind of beating which we have seen in case of IFCI largely on the concerns on the defaults on the promoter or maybe the NBFC funding against the stocks are all that is coming to an end. We have been seeing the value buying coming back because if you really take a core valuation of the company in the extreme given situation also, I think it is not less than Rs 35- 40. I think it is now returning back to those levels because huge shorts have seen remaining uncovered in the system from December series onwards which got rolled over to January and they carried on even in the month of February also. So largely it has triggered with the value buying emerging in all the financial stocks but now seeing huge short covering coming back into the stock."
"Hotel Leela's numbers were horrible and how can these kind of losses be posted because Q3 if you see traditionally for all the hotel stocks are the best quarter. If one see Hotel Leela they have the properties in Goa and in other places where the Q3 season is quite robust and the fall could get further aggravated because we have been seeing positive bias in the stock happening for last couple of days on the news that promoters have released their pledge shares or the stake sale is there in the offering and all sort of news. So huge long positions got built up in last couple of days or so but results are really horrible."
