Siti Cable can give 30% returns: Tater

Aashish Tater, Head of Research, Fortunewizard.com is of the view that Siti Cable can give 30% return from current level.

Tater told CNBC-TV18, "If you see Dish TV’s pattern for almost last one year what is happening is the stock goes to Rs 55 and then rebounds at Rs 85, then there is a story that Rs 85 stock will go to Rs 110, but eventually it distributes to that Rs 55 level again. Also this is one stock where we feel fundamentally at Rs 8,000 crore odd from the same group you can actually switch to something like Siti Cable around at Rs 22-23 odd mark where we feel at least 30 percent upside is there from current levels. We feel Rs 55-57 zone is inevitable for this particular stock, because this has been the pattern for at least during the period of study that we are doing on quantitative basis. Even fundamentally on the sales ratio expected we feel Citi Cable would be a better switch.