CEBBCO to settle around Rs 40-42: Tulsian

SP Tulsian, sptulsian.com feels that Commercial Engineers and Body Builders Co Ltd. (CEBBCO) should not fall  further from hereon. Maybe the margin pressure call and the fundamental value will support the share to settle somewhere around Rs 40-42.

 Tulsian told CNBC-TV18, "In Commercial Engineers and Body Builders Co Ltd. (CEBBCO) if you see about 1.25  crore shares are seen to be pledged. In non-promoter category if you do not get to know that whether they are the  financing activity and these kind of things we see happening in case of many of these companies. If you see the stock  has moved from about Rs 50-90. I am not saying that the financial performance, which the company has declared a  couple of days back is bad, because they have posted close to about Rs 7.5 EPS for the first nine months. So they  should be posting an EPS of close to about Rs 10.”
He further added, “On Friday the financiers have not been able to exit from the stock, but yesterday we have seen the  selling of about 25-30 lakh shares as a delivery. So I think that the pressure is easing out. Maybe the stock in my view  should not fall further from hereon. Maybe the margin pressure call and the fundamental value will support the  share to settle somewhere around Rs 40-42."