Buy Wockhardt around Rs 880-875: SP Tulsian

Buy Wockhardt around Rs 880-875, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “If one sees TTK Prestige numbers, there is improvement in the top line, the growth is 30%, but if you see the bottom line has grown only 21% that indicates that the margin pressure definitely exists into the stock and the kind of margin pressure if continues because Q4 results have not been very exiting now.”
He further added, “One has to take a new call for the whole of FY13. So definitely if you take a trading view on the stock because on a fundamental in my view the stock looks fully priced, but this is a very sensitive trading stock and if it corrects to about maybe Rs 3100-3150 where one can make an entry, but I won’t be taking a positive call even from a trader’s point of view at the current level of Rs 3300 plus.”
“Wockhardt, purely on fundamentals I have taken a call that there is no point in remaining invested in the stock, but yes, as you have rightly used the word that this has now become pure a trader’s stock. We have seen last week the stock correcting from about Rs 945-950 to about Rs 875. On Friday, it was at Rs 875 and today we have seen the stock moving back to about Rs 930 and the best part is that on every revival of the trading interest into the stock we are seeing the stock hitting the new highs. This time it may go to about Rs 960-975, but it will be very risky if somebody has a trading view and if he can take a contra call on the stock whenever it corrects to about maybe Rs 880-875 that’s an entry point. From hereon the stock can give a rise of about Rs 25-30, but I will not be buying the stock as investor.”