Buy Repco Home Finance around Rs 150-155: SP Tulsian

SP Tulsian, sptulsian.com advises to buy Repco Home Finance around Rs 150-155.
 
Tulsian told CNBC-TV18, “Repco Home Finance, it was expected that there was a very dull response from the retail space in fact maybe the institutional investor have come to the rescue of this issue. However, I don’t find much negative in the stock because nothing was expected. The price was seen aggressive, nothing was left on the table for the investors and all but I don’t think that there is any kind of worry because if you see the quality of the performance in the housing finances space and price to earning (PE) multiple of maybe close to about 11 times the only worrying point is that in the last three years there has been drop in the net interest margin (NIM) margin which was at about 5 percent plus has fallen to about sub 4 percent. So, that was a worry but this all thing was known so maybe the stock should settle at the current level.”
 
He further added, “I don’t think that much downside can be seen and one can expect to see the stock moving in the range of about Rs 150-165 maybe in next couple of months. This is not the stock for the retail investors those who track the stocks on a daily basis but I don’t find anything wrong, if you have a longer term horizon even the buying can be contemplated at a level of about Rs 150-155.”