Further upside seen in BGR Energy: SP Tulsian

Further upside is seen in BGR Energy, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “If one sees yesterday BGR Energy, L&T and in fact two other stocks like ABB, Siemens, in fact all of them have really moved up and this has been the long pending demand and if you go by the commercial prudence also, this requires a imposition of extra import duty to the extent of 5% because the kind of capacity creations which we have seen in our country by BHEL.”
He further added, “Many JVs having entered by JSW Group, by BGR Energy Group, by the Bharat Forge Group and the kind of equipments – the Chinese equipments being imported are no so of the good quality. So, may be to curtail the current account deficit or may be to protect the indigenous industry I think the imposition of 5% extra import duty is likely to come. Its just a matter of time and that has a commercial prudence also. So, going by this logic if it comes very quickly, may be in this week or so, we may see further upside on these stocks like BGR Energy and in fact the most high beta stocks or may be the highly volatile stocks or the stock which will really react more on this upside news will be BGR Energy amongst the entire lot.”