Tulsian positive on realty space, says buy Peninsula, DLF

SP Tulsian of sptulsian.com told CNBC-TV18, “I am keeping my cautious stance on the Nifty and on the market. That is the reason you have rightly pointed out that all the real estate stocks have taken a beating of 15-20 percent.”

He further added, “My outlook continues to remain positive on the real estate sector and that was the view sounded couple of weeks back also. That has been the view of the market as well. So, long positions have been created in majority of the stocks which got liquidated because of the weakness which we have seen in the last weeks.”
“So, the resumption, the under-ownership, the liquidation or the exit of the weak hands probably will see the renewed buying interest coming back into the stock.”
“Since my view is positive on the real estate sector, I have chosen one stock from each geography. 1) From Bangalore I have chosen Brigade Enterprise. 2) From Mumbai I have chosen Peninsula Land, who will also be declaring their numbers on Monday. That is likely to be quite good because of the sale of one of the property which they have developed off Don Mills at Lower Parel. 3) Two stocks I have chosen from the National Capital Region (NCR), one is DLF and second is Anant Raj. The kind of corrections or beating which we have seen in DLF also seems to be unwarranted. We are likely to see the renewed investment based buying coming in DLF. Apart from that Anant Raj has been continuously reducing their debt. Recently they have liquidated some of their debt instruments as well. I am keeping my positive stance on the entire real estate space. However, these are the four ideas I am giving for next one week to 10 days view,” Tulsian said.