Exit Tulip Telecom: Tulsian

SP Tulsian of sptulsian.com is of the view that one should exit Tulip Telecom.

Tulsian told CNBC-TV18, “Tulip Telecom price itself indicates that the company had all kind of negatives in spite of the management assurance which they have been giving for last six months in respect to their Foreign Currency Convertible Bonds (FCCB) liability. One should look to exit at around Rs 14 or at best one can review his investment decision when the share touches Rs 14, but I don’t hold any hopes because once the company gets derailed it is very difficult for companies to bounce back. So, exit is ultimate advice. It is only a matter of price, so right now Rs 14 should be the target which one should keep in his mind.”