Anant Raj Ind has potential to move up, says SP Tulsian

Anant Raj Ind has potential to move up from current levels, says SP Tulsian, sptulsian.com.
 
Tulsian told CNBC-TV18, “If you really want to play on the theme that FDI in insurance is likely to get hiked to 49%, apart from Max India I will be keeping my positive stance on Bajaj Finserv, Reliance Capital and HDFC because if you see these three companies, they have their insurance arm and in fact all of them are quite having a good business penetration or may be some of them are in profits. So, I will keep my positive stance on these four stocks.”

He further added, “For last one month we have been seeing the real estate stocks all are going up and infact if you see the Anant Raj Industries, couple of years back it was debt free company but they had a debt of close to about Rs 1,000 crore which has seen the valuations getting severely eroded. But the management again about two-three months back has maintained that they will be able to retire their entire debt by March 2013 and maybe the people those who have- infact if you see the moment which we have seen in the last one week or so, the share has moved up by close to about 25 percent or so.”
“In the morning also it was showing some weakness but thereafter gained a good strength. So probably management maybe going ahead with selling some of their property and trying to mobilize huge amount to make the company debt free and if that happens, I think the share has good potential because this is the company which has a strong presence in NCR in all the verticals, whether you talk of residential, commercial, shopping, malls and they have a huge landbank which can get developed in next five-seven years. So once they make the company debt-free in the next one year or so because Rs 1,000 crore debt is not such a big amount then the stock has a good upside potential even going forward maybe with a view of about 6-8 months or so.”