Enter IVRCL around Rs 60, says SP Tulsian

SP Tulsian, sptulsian.com advice traders and short term investors to enter in IVRCL around Rs 60.

Tulsian told CNBC-TV18, “IVRCL, unless until we hear the news that the hostile takeover is again getting revived or the Aircel group has again started acquiring the share from the market till that time the tired traders and the short term investors will keep exiting from the stock.”
He further added, “This kind of correction maybe should stop at about Rs 60 or so because definitely this statements having issued by Aircel Group is not giving the comfort that they are going to put an end to their acquisition drive. The moment the share price will fall below Rs 60 we may see some FIIs and all that coming in and acquiring the shares again in a big way. So this is only the tired investors and traders liquidation which is making the shares to correct. In my view Rs 60 is a very attractive level for any traders or short term investors to make a re-entry in the stock.”