Expect HDIL to touch Rs 48 in July series: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "In the month of June, we have seen many of the stocks getting hammered like Shree Renuka Sugars, IVRCL, Opto Circuits, HDIL, but if one really goes by the weakness which has started in Housing Development and Infrastructure (HDIL) after their Q4 numbers, substantial progress has been made by the company. They have already constructed 25,000-27,000 flats."

"From hereon the re-rating or maybe the value buying will start emerging at the lower levels. The company has good presence in Mumbai. They are very good holders of Transfer Of Development Rights (TDR). They have 8-10 projects going on in the Mumbai. They have huge land parcels with them," he added.
He further said, "Going forward, overall I am expecting the stock to move to a level of Rs 48 in the July series itself. That means it has an upside of maybe about 18-20 percent from current levels, so holding positive view." Also Read: Mumbai Airport rehab case: HC gives interim relief to HDIL