Stay invested in EID Parry for target of Rs 260: Tulsian

SP Tulsian, sptulsian.com is of the view that one can remain invested in EID Parry till the level of Rs 260.

Tulsian told CNBC-TV18, “If you take their core business EID Parry has a very strong presence in all the Southern states like Tamil Nadu, Karnataka, and Andhra Pradesh  where they have six-seven sugar along with a matching co-gen capacity, distillery and as I am holding a very positive view on the coming sugar season, obviously their core business will be do quite well and apart from that they are holding 65% stake in Coromandel International, which is the largest complex fertiliser maker. Again, a very positive view on that company as well and their consolidated results are likely to be quite better and valuations wise the share not expensive. So, I will probably remain invested in the stock till the level of Rs 260.