BOC India, Timken India may rally 25%: SP Tulsian

BOC India and Timken India has potential to move up by 25%, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, “All these multinational companies (MNCs) you always had the faith on these companies that they will always be resorting to fair means. However, I don’t think that that kind of things have been seen happening in case of maybe stocks like AstraZeneca Pharma or maybe the stocks like Kennametal India where we have seen yesterday the OFS having completed.” He further added, “If you see these two stocks in BOC you have 87-88 percent of the promoters or maybe closer to 89 percent and in case of Timken also the promoters have 80 percent stake. If they genuinely resort to the delisting move which is likely because otherwise things cannot move up like that. If they would have gone for OFS then the prices would have corrected because you just set any floor price and just want to go ahead with reduction of your stake. So, if they genuinely go for delisting of this companies both the stocks have still very good upside potential which can be maybe out 25 percent still from hereon in spite of having seen a run-up of 20 and 15 percent respectively.”