Buy DB Realty, says SP Tulsian

SP Tulsian, sptulsian.com advises traders to buy DB Realty.

Tulsian told CNBC-TV18, “DB Realty, yesterday we have discussed this and at that time I said that Rs 95 is seen as a good level to make an entry because yesterday it was hovering at about Rs 100 or so. I don’t see any reason for the stock to correct so much except maybe for the sentimental reason because even if you take the worst case scenario the alleged allegation of the nexus of the public prosecutor and the promoters of the company.”
He further added, “I don’t think that one can really expect, so much reflecting on the share price and more specially when we have seen at its worst time share has held on the level or the support of Rs 65 and now you get to see a price of Rs 85-86 for the stock definitely, I won’t accept these kind of deterioration on the valuation front, but these all seems to be more fundamental. If you recall, about 3-4 months back we have seen the large investor entering into the stock and if those investors start taking a negative call and for some reason if they start exiting then you cannot really take a technical or a fundamental call. Infact that kind of exit we have seen in some of the stocks like Shasun Pharma and all that where the stock have corrected by 50 percent, so whenever the large investor starts exiting - the other classic case was of Orchid Chemicals – the same set of investors, which are being talked for this company also. So if they are exiting from the stock then I don’t think that you can really take a call till they exhaust or till they completely move out of the stock.
Otherwise, one a pure fundamental-basis knocking off that expectations of the selling by the large investor I will definitely be advising to buy the stock.”