Gitanjali Gems may trade in Rs 550-600 range, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, “If one see Gitanjali Gems has moved to about Rs 600 maybe a month to 45 days back. If you take the fate of all the jewellery stocks I think you can compare this also as one of the reliable one, but even the same fate we have been seeing in Titan Industries that is not moving up much, but the other players in this space like maybe Tribhovandas Bhimji Zaveri, PC Jewellers and there are so many other players prevailing in this space you have very least confidence on the corporate governance and all sort of things.”
He further added, “I do not think that share can really move beyond Rs 600. You see some kind of informed buying elements happening in this stock also which moves up by 5-7 percent and then quickly gets corrected. So I will keep a range at Rs 550-600 for this stock and will not be taking too bullish call looking to these good numbers."
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