Stay away from KS Oil, says Tulsian

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Stay away from KS Oil, says Tulsian

SP Tulsian, sptulsian.com feels investors should stay away from KS Oil.

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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 KS Oils See messages about KS Oils

SP Tulsian, sptulsian.com feels investors should stay away from KS Oils .

Tulsian told CNBC-TV18, "Again the talks are coming in sometimes you hear that KS Oil are selling their wind projects or windmills to tide over the liquidity crunch and second set up the rumors or the expectations are that probably the promoters are looking to exit completely from the company because we all know that they are really broke, majority of their shares got sold. Actually majority of their stake or virtually the entire stake was pledged and in fact we have been hearing that there was lot of though it is not on the record or the operators play the collision of the promoters with the financiers or all sorts of things. So obviously if the company is getting sold then you see these kinds of bumps coming in because we have seen may be couple of days back happening in case of GTL where the debt restructuring was seen happening."

He further added, "So similar things but my view is generally that whenever you have distress sale of this kind and if the deals have not happened in a transparent way the promoters will always try to salvage as much money as they off record. So I won't be taking a fundamental call trading bump sale which will all keep coming in these kind of stocks the stock has corrected by more then 75-80% obviously you have some room of technical bump from there on but it is very difficult even for the... as I said I will be ruling out on a fundamental basis even on the technical basis. You just can't take a call that the rise will keep on happening that we have seen for a day in IVRCL then getting fizzled out we have seen that happening in GTL then coming to a pause and all that so I think that even traders should remain away from these kind of playing on the trading bump on a daily basis or on a frequent basis."