SP Tulsian cautious on DB Realty

SP Tulsian, sptulsian.com is cautious on DB Realty as majority of stocks from real estate space are now trading close to their resistance levels.

Tulsian told CNBC-TV18, “Majority of the realty stocks if you see Brigade having moved to Rs 90, Kolte Patil having moved to about Rs 140-145 or maybe many other stocks they seem to have reached their fair value. Even I won’t be hesitating to include the stock like Prestige Estate also.”
He further added, “If one sees the overall realty which has been holding the level has not seen this kind of run ups. So, all the other stocks were definitely undervalued but we have seen good run up. So, maybe one has to be little cautious. In fact you can add the name of DB Realty also in the list because all of them have seen good appreciation largely because of the undervalue at which they were ruling because market has been seeing the net present value of maybe 15-25 percent of their properties or land bank held by them. So, from hereon I will definitely exercise caution on these stocks.”