SP Tulsian positive on retail stocks

SP Tulsian, sptulsian.com is positive on retail stocks. One may see the re-run of all retail stocks once the profit booking gets over and maybe the correction can happen by about 2-4 percent from hereon further.

Tulsian told CNBC-TV18, “We have seen the huge run up at least in the stock like Pantaloon Retail and we have been seeing the profit booking coming in those stocks. I am not taking my negative stance on this. Again, you will be seeing the re-run of all these stocks once the profit booking gets over and maybe the correction can happen by about 2-4 percent from hereon further. But again the positive stance continues to remain on all the retail stocks.”
He further added, “All these so called private sector banks where either the promoters are not there. There are no defined promoters and the theme or the hopes in the market is that they are all seen as a takeover target whether you talk of the Lakshmi Vilas Bank or Karnataka Bank or sooner or later maybe the stocks like Dhanlaxmi Bank, DCB they all will come in that league. So, I think it is not to do with the public sector bank tag, but more of the undefined promoters and the promoters having very low float and they are all seen as the prospective takeover target and that’s the reason we have been seeing this strong valuations or maybe the strong run up seen in the stock.”
“Two stocks today I am not too sure about the Lakshmi Vilas Bank having run 20 percent. But the people have been talking for Karnataka Bank and Dhanlaxmi Bank as the immediate in the near-term the change of ownership or maybe the takeover is likely to happen once we have the clarity by this banking amendment laws. So maybe the stories will keep on getting added to these other banks as well.”