Blue Star can test Rs 250: SP Tulsian

Blue Star can test Rs 250 in next 6-8 months, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "I am quite positive on Blue Star because if you see this company’s performance of FY12 net loss of Rs 90 crore against PAT of Rs 150 crore in FY11 has really seen this kind of value erosion happening in the stock. And we always see all the air conditioner stocks hitting the 52 week high in middle of July."
He further added, "On Voltas when the results were out Q4 I gave a technical target of Rs 110 and fundamental target of Rs 125. I won't be revising it upwards. Right now we will restrict to the price of Rs 125 where we may again see the profit booking coming in because people will start factoring again the Q1 results."
"But I will be closely watching the results of Blue Star because Rs 90 crore losses in FY12 were just one-off. They have lost in some of the large contracts which are not likely to get repeated. So even if they are on the verge of posting a PAT of about Rs 100 crore for whole of FY13 which gets reflected or indicated from Q1 of FY13, I think that can make the stock gradually move to about Rs 250 in next 6-8 months."
"On other stocks like Hitachi where the theme of delisting still exists with promoter’s stake of 70% and all that, I’ll be bit cautious because those are very high beta stocks. We see profit booking also coming in very quickly. So I don’t think those can really be traded by the small investors with confidence in those stocks."