Educomp may correct to Rs 50: SP Tulsian

Educomp may correct to Rs 50, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “There were worries on the working of Educomp. Post this expectation of the net loss likely to be posted by the company, again huge negative is seen. They have all sorts of problems, they have the margin pressures, they have the working capital pressure, in the past they had the corporate governance.”

He further added, “In this scenario, market is very cautious and they don’t want to take any kind of chance or risk. So yes, all likelihood that we can see the stock correcting to about Rs 50 maybe in next one week or so.”

On April 09, Educomp Solutions closed at Rs 58, down Rs 2.10, or 3.49 percent. It has touched a 52-week low of Rs 57.20.