Short Sesa Goa, may fall to Rs 175-176: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "When one compares Exide Industries with Amara Raja Batteries, on FY14 estimate, Exide is still ruling at a PE multiple of 18 and Amara Raja Batteries at 14 after seeing such a big run up."

He further added, "Amara Raja Batteries having moved to a level of Rs 315-310, I am expecting profit booking will start coming in and whenever it corrects the shift takes place back to the stock in Amara Raja Batteries. I don't think there is any justification. Maybe a level of Rs 127-128 can be contemplated on Exide," he added.

"Second is a short call on Sesa Goa. The Supreme Court hearing in the Goa mining case has been adjourned to October 22, so there will be a lull of next three weeks or so. I don't think any kind of interest is going to get built up on the counter. One can look for a level of about Rs 175-176 in the next one week or so," Tulsian said.