SP Tulsian positive on CESC

SP Tulsian, sptulsian.com is positive on CESC.

Tulsian told CNBC-TV18, "I have been keeping my positive stance on CESC because if you see the corrections  having taken place after their acquisitions of 3i-Infotech, it has corrected to Rs 280. At those levels, I gave a buy call  because if you go by their core business, I do not think that there is any kind of problem, they have their business very  much in place and the capacity additions, which they will be making of about more than 1,200 megawatt (MW) to their  existing capacity of 1,500 MW in the next six-eight months is going to be seen quite positive."
He further added, "If you take their core business, that is giving an earning of about Rs 45 per share. So that also  makes a share to trade at price to earnings (P/E) multiple of Rs 7 which seems to be quite low for a power generation  and transmission company because they are the distributors in the Howrah and Kolkata region also. So overall I am  keeping my positive stance and expecting a price of maybe about Rs 340-345 in next couple of months."