Hathway Cable likely to trade in Rs 185- 190 range: Tulsian

Hathway Cable is likely to trade in Rs 185- 190 range, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Reliance Communications has been languishing for the last 1-1.5 month and I think this will be seen as a good trigger by the market for the stock to move up and one can definitely play on this and I am expecting that this news can take the share price to move to about Rs 76-78 in this series. So this looks a good positional trading call for this series."
He further added, “Hathway Cable has been remaining strong for last 1-1.5 month. If you see whenever the stock corrected to about Rs 160-165 level we see renewed buying interest coming back and TV today post that Kumar Mangalam Birla acquiring the stake in the company from Arun Puri it has been in the lime light on the hopes that the further stake increase will happen which will trigger the open offer and that is seen quite positive. So one could say that this is just the derating of the TV today but for Hathway I think the stock has been moving in a range of Rs 160-165 to Rs 185-190."