Hindustan Oil Exploration may test Rs 125: SP Tulsian

Hindustan Oil Exploration may test Rs 125 if the deal happens, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “Hindustan Oil Exploration Company (HOEC), I don’t know whether the stake sale can happen in the near term because we have been hearing this for maybe last one year. In fact this kind of news has been coming in and in this last one year we had similar kind of news coming in on two three occasions.”
He further added, “If this time this deal happens one can look to have the deal happening at about Rs 130-140. If you see the share holding pattern there are many loyal investors like HDFCs holding close to about 11-11.5 percent, Rakesh Jhunjhunwala is holding about 4-5 percent stake in the company. So, definitely it is likely to have better valuations in the event the deal happens and that can make the share price to move to about Rs 125. But one has to have that certainty or surety of the deal going through as I said that news has been coming in the last one year two or three times.”