SP Tulsian`s view on Orchid Chemical, ONGC

Published on Wed, Feb 08, 2012 at 18:01 |  Source : CNBC-TV18

Updated at Thu, Feb 09, 2012 at 11:16  

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SP Tulsian, sptulsian.com

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SP Tulsian, sptulsian.com shares his view on Orchid Chemical and ONGC .

Tulsian told CNBC-TV18, "Orchid Chemical, disappointing numbers largely because of the forex losses and the interest burden because the kind of performance was not expected from the company and in fact this is the consecutive 3rd setback on the Q3 numbers, but I think that probably with the rupee recovering so swiftly we will be seeing the provisions getting reversed in Q4 and that will really be the breather and the kind of trading positions, which we have seen getting created in the stock has to get liquidated. So, that's the main reason for such a steep fall in the share price."

  

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