Hitech Plast a safe bet: Tulsian

Hitech Plast is a safe bet at this level, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Hitech Plast is making the plastic drums, bottles for the paint and the pharmaceutical and other industry. This company is promoted by the promoters of Asian Paints that is the Dani family and they are holding close to about 67% stake in the company." He further added, "In the past they did not perform much well but for the last one to one and a half year, the performance of the company has quite established. Infact the FY11 is likely to be the good year for the company with EPS likely to be close to about Rs 15 and the performance is likely to improve further in the time to come because the kind of demand the company has been seeing with the - you can say that the demand coming from the group company and this product, the plastic containers have all been having wide applications in all the industries especially in the industrial segment product." "This company is likely to continue to do well, you have a very established promoters with high promoter stake not much debt concern, consistent performance growth of about 30-40% in the topline and bottomline makes it again a very safe bet at these levels."