Muthoot Finance has target of Rs 250-255, says SP Tulsian

Muthoot Finance has target of Rs 250-255 and Geometric may test Rs 110-112, says SP Tulsian, sptulsian.com.
 
Tulsian told CNBC-TV18, “May be another 10 percent upside from here can be seen in loan companies because if you really take the valuation call I don’t think that Q3 numbers will really be very exciting whether you talk of Manappuram General Finance or Muthoot Finance. So may be things will move from here on.”
 
He further added, “Today Manappuram is frozen upward at 20 percent circuit and even Muthoot has been ruling quite strong. But may be a level of about Rs 44 on Manappuram or Rs 250-255 on Muthoot should be the targets in the near term.”
 
“Geometric is seen to be in strong hands and Rakesh Jhunjhunwala has increased his stake also in the company and if you see the present acquisition though it may look to be small may be at about 7 million euros or something like that but if you see that has been made from the cash accrual. Infact the idle cash lying in the company will get used. And whenever we see the upmove coming in the stock it comes very swiftly. So may be a price target of Rs 110-112 can be seen in the stock price in next couple of days or so.”