SKS Microfinance may rally further, says SP Tulsian

SKS Microfinance may rally further, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “SKS Microfinance, if you see everything has been factored by the company and you can't expect anything to go really lower from here on. First the problems of Andhra, they practically wrote off the entire receivables from that region and apart from that the company has been struggling for last couple of quarters to restart the things on practically at a reduced level or at the return off level which they have by and large effected and now we have been hearing that the new guidelines can really be a big relief because then we will be having the clarity may be at the current level things will start improving.”
He further added, “The stock which is quite heavily under owned, infact it is happening in many other stocks as well where we have been seeing the renewed buying coming in once the bottom formation has really happened. The case in points is Jain Irrigation, HDIL, and Orchid Chemical. So these kind of stocks. So again here you cannot really expect SKS Microfinance to really fall below these levels and whenever any kind of relief expected to come in the form of new guidelines or new regulatory moves that will again be giving the lease of life for restarting or ramping up its business on the revised guidelines or on the new guidelines. So I am keeping a positive stance. Infact I am expecting the stock to move further from here on because of fixed under ownership and because of the new business adopted by the company under their changed avatar and the changed guidelines.”