SAIL may correct below Rs 60: SP Tulsian

SAIL may correct below Rs 60 in the near-term, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “SAIL (OFS), definitely going to see 100 percent and that is as you have rightly said will come from LIC. No surprise for that because government cannot allow them to fall flat on their face. They are going to see that so it is – the details are all up to 3:15 so you are going to see a response of about 110-115 percent.”
He further added, “It will be seen really very negative by the market and stock may correct below Rs 60 in the near-term.”
On March 22, Steel Authority of India (SAIL) closed at Rs 63.40, down Rs 0.50, or 0.78%. It has touched a 52-week low of Rs 63.10.