Tulsian negative on Essar Shipping, Essar Oil

SP Tulsian, sptulsian.com is negative on Essar Shipping, Essar Oil and Essar Port.

Tulsian told CNBC-TV18, "I keep my negative view on all Essar Group stocks at least till December 17 because that is a very important date when the special court will take a cognizance of the chargesheet having filed by the CBI. Otherwise also if one takes a fundamental call on all three stocks, Essar Shipping has been performing very badly post its delisting in the demerger avatar."
He further added, "Even Essar Oil - there have been concerns on the falling refining margins. The company has never posted the good working even post expansion basis which they have been carrying out in a phased manner. And same thing stands for Essar Ports because the kind of volatility which we have been seeing 15% going up one day and then correcting the next day. So, people are not very comfortable on a fundamental basis with respect to all the group stocks. So I will definitely remain quite cautious at least till December 17."