Expect Indiabulls Real to touch Rs 72 in 3 months: Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "I find Indiabulls Real Estate among the realty space as quite stable and strong because I don't think that it has the support or can really fall below Rs 56. In the month of June, it closed at Rs 60 and quickly bounced back to Rs 66-67 and is now ruling close to about Rs 63."

"The stock is ruling at its lower end and even if one sees the developments which they have been carrying out on their real estate development projects in Mumbai, they have been doing very well. They have been able to sell two of their projects at a competitive rate. So taking all this into account, one should be able to see a level of Rs 72 in next three months," he added.
He further said, "I don't think that beyond Rs 72, one should remain invested in the stock and I am quite confident that Rs 72 level can be seen in the stock in the next three months because the Q1 results are also expected to be very much in line."