Stay away from Mahindra Satyam, says SP Tulsian

SP Tulsian, sptulsian.com advice traders to stay away from Mahindra Satyam.

Tulsian told CNBC-TV18, "Mahindra Satyam, I don’t think that there will be any positive surprise from the company. Again it will be just the kind of gradual recovery in the operations which we will be seeing for the stock and the stock has seen some positive buying for last couple of days, but I don’t think that that can really last. Maybe some disappointment may come from the results which may lead to see some profit booking into the stock. So I will remain away from it." He further added, "IRB Infra, only saving grace for the stock could be that the FII or selling should not come into the stock because last week on Friday we saw 55 lakhs getting delivered into cash segments and the holding of the FIIs are about 8 crore shares. I think that has stopped for time being because of the more negative news, further negative news coming in. As long as that remains I think some technical short covering will be seen in the stock because it has corrected to as low as Rs 105 and we are seeing this short covering effect into the stock. But if the delivery based selling come in again then probably share can breach the two digit mark."