See 100% upside in Aditya Birla Money: Ashish Tater

One can see 100% or even more upside in Aditya Birla Money from current levels, says Ashish Tater, www.fortunewizard.com.

Tater told CNBC-TV18, "Aditya Birla Money could be a very interesting bet from this year’s perspective. If you see, we have been following some decent opportunities where we feel that Aditya Birla Money could be a very interesting bet for at least 50-70 percent return or even 100 percent return from current levels."
He further added, "If you see, Birla would definitely apply for banking license and that’s how this particular story and stock can emerge for at least 100 percent return from current levels. If you see, Apollo Sindhoori Capital Investments was acquired by Aditya Birla Group and then was renamed to AB Money. Now, they acquired somewhere around Rs 199 crore for 56 percent stake and later on raised that stake."
"What has happened is that maximum small investors are stuck in that zone of Rs 54-55. Given the RBI guidelines, it has to either get merged with AB Nuvo, the holding company or it will eventually AB Money will go for a banking license. Either ways, this stock can at least give you a 100 percent upside because if you see the way the reorganisation will happen is small shareholders are going oppose if they are going to get anything less than Rs 35 on this particular stock. So from that angle, this could be a very interesting bet."
"Similar situation happened in the Mangalam Timber and Mangalam Cement case where few shareholders move to Company Law Board (CLB) and they opposed the merger. The merger got stuck and eventually you are seeing now that the Mangalam Timber is getting bought by the AB group promoters, which is similar pattern visible in this particular stock. Mangalam Timber raised 100 percent from the lows of Rs 15-16. This is another stock where the downside is almost next to negligible and a potential upside of 100 percent or even more from current levels."