Enter Bombay Dyeing and Manufacturing Company on dips, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "In Bombay Dyeing there has been no contribution from the real estate segment. That has been the situation in Q1 also and that has been the case in Q2. If you see their other segments the losses have started lowering on those accounts and that is a positive."
He further added, "The company have the total debt of close to about Rs 800 crore and if they bring it down to about maybe Rs 200-300 crore, which they can easily do by maybe monetizing some part, because when the things are sold by them it is sold en bloc where huge realizations are made by them and I do not think that they need so much infusion in the real estate sector."
"It will be very interesting to see the second half of the company because they have a good quantity of the real estates completed already, one at Wadala, one at the Lower Parel. So I think I am quite keeping a positive stance and you will suddenly see the en bloc profits coming in from the realty sector. So any dip in the share price should be used as an entry point."
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