Wockhardt may rally to Rs 450, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "I have been maintaining my positive view since Wockhardt was ruling about Rs 270-275 at around New Year. In fact if you see the hearing is placed on this Friday and the Danone deal is all stuck there because of the FCCB holders having raised the issue, but looking to the settlement having made by the company with a section of FCCB holders and the kind of extra relief they have given to State Bank of India, I don't think that they will really make this small section of the FCCB holders really unhappy, it is just a matter of time, maybe one adjournment may happen on 13th January, the hearing is scheduled in Bombay High Court, but ultimately the deal of nutrition business sale to Danone is going to happen for USD 355 million and that will infuse about maybe Rs 1800 crore into the company against it's combined or consolidated debt of Rs 3200 crore."
He further added, "If one see the financial performance, which has really improved in last 6 months. In fact I am maintaining that stock has the capability to move to about Rs 450 in next 10-12 months time, though it has all run up by about 10-11% today, but still I am keeping a price target of anywhere close to about Rs 450 in the next 10-12 months."
