OnMobile can move to Rs 42-43, says SP Tulsian

OnMobile can move to Rs 42-43, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “When I saw OnMobile news yesterday, I thought that market will not like it, may it will be an admission that there are some corporate governance issues, but probably the market has seen it other way, that the bonafide seems to be there of the company- Rao having stepped down and allowed the corporate governance issue to take up.”
He further added, “I have been taking a positive call when it corrected to about Rs 30 because they have some issues in their investments in their Telepfonica the overseas investment, the VAS business coming to a very low scale because of this recent telecom companies health and all the problems, but probably market has taken that something may not come out of this corporate governance issue where it has been projected to be. So, may be the short coverings are seen coming back or may be the renewed buying interest which has seen having got built up from the level of Rs 30 is continuing now in the stock and can move to about Rs 42-43 in this rally at a stretch continuously.”