FDC a good long term bet: SP Tulsian

FDC is a good long term bet, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, “FDC management has denied the stake sale, but you cannot rule out that possibility. If there is some smoke definitely there has to be some fire. I am keeping my option alive that probably we may see the stake sale because the management body language or the kind of explanation they gave many not holds very well.”
He further added, “The kind of run-up which we have seen in the stock price, it moved to about Rs 103-104 and thereafter post that statement it is bound to come, but if you take a scenario the stake sale does take a little longer time. You have due diligence process, in fact these kinds of things which we have been seeing in West Coast Paper also for last three, four months, but no progress has happened. So, I don’t think that traders can really take a call beyond a point. May be Rs 100 seems to be the cap for the traders. Beyond that stock may not move up, but those who have high conviction and those who have a longer time horizon of three to four months can definitely take a call if the stake sale happens which in my view the chances are 50-50.”