Sell HDIL around Rs 48, advises SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "If I take a fundamental view then I find a value that Housing Development and Infrastructure (HDIL) corrects below Rs 40. However, if one takes a technical view, I don't think that real estate stocks are doing well and more especially when the whole market takes a beating or a downturn."

"The downside from hereon is very limited in the stock. I don't think that it can fall below Rs 35, even if one takes a technical call. With a short-term view one can look for a level of Rs 48 in next three months or so where one can look to exit," he said.
The share touched its 52-week high Rs 123.95 and 52-week low Rs 31.75 on 16 January, 2013 and 25 June, 2013, respectively. Currently, it is trading 69.95 percent below its 52-week high and 17.32 percent above its 52-week low. Market capitalisation stands at Rs 1,560.79 crore.