SP Tulsian positive on Adani Port, Adani Enterprises

SP Tulsian, sptulsian.com is positive on Adani Port and Adani Enterprises. Some bounce back can be seen in these stocks.

Tulsian told CNBC-TV18, “Adani Group, it was shocking and contrary to the market expectations. I don’t think that anybody has really expected all trios – Adani Power, Adani Port and Special Economic Zone and Adani Enterprises correcting anywhere between 3-8 percent. So I could understand that lot of trading positions in anticipation of the positive effect on few Gujarat stocks like Gujarat State Petronet Limited (GSPL), Gujarat Mineral Development Corporation (GMDC) and these Adani Group stocks were expected by the market and lot of trading positions have been built up and may be some profit booking in the start of this session led to the liquidation of those long positions. So that was definitely surprising but yes going forward I am keeping my positive stance on Adani Port.”
 
He further added, “If one sees Adani Enterprises OFS they have set the floor price at Rs 282. So that indicates that proper homework has been made and if 4 percent premium has been set at the close price obviously none of the OFS is seen to be getting flopped in the recent times because that seems to be the homework done by the investment bankers along with the promoters. So I am expecting that may be the bounce back will come back in Adani Port and Adani Enterprises. I am not too sure about Adani Power because the kind of problems still they are facing with imported coal and all sort of things are not likely to get resolved soon. We may see some trading bump coming in Adani Power, but keeping positive stance on Adani Enterprises and Port.”