NHPC likely to trade in Rs 18-21 range: SP Tulsian

NHPC is likely to trade in Rs 18-21 range, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “NHPC, couple of weeks back we have seen the margin call pressure at that time one section of the market has expressed that why things are happening of any kind of margins calls in the PSU banking stock but that was a fact and we have heard the news at that time of two or three Ahmedabad based brokers who have gone long in the stock. So, that margin call pressure now seems to have gone away from the stock which has made it to correct about Rs 21 maybe from a level of Rs 27 or so.” He further added, “I have never kept the positive view on this and if you have the cases reported by the minister on the floor of the parliament that 19 cases of the irregularities have been detected in two to three years between 2010-2012 obviously this is seen to be a serious lapse of the corporate governance maybe the loose end of the risk management at the companies end which is not going to get liked or tolerated by the market. However, I don’t think that much downside can be seen on the stock maybe in the knee-jerk or when the people again start exiting from it Rs 18 is not likely to get broken and on the upper side it is not likely to move to Rs 21. So, take a range of Rs 18-21 over the next one month or so.”