Limited downside seen in IVRCL: SP Tulsian

Limited downside is seen in IVRCL, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “IVRCL has corrected largely because there is no news. There is a pause in the move having initiated by the Essel and no hostile takeover. Nagarjuna Construction taking cues from the IVRCL valuations has been moving up. So probably both are responsible for a pause and halt. But I don’t think that much downside is really seen in the IVRCL from hereon. In respect to the Sintex again it is returning to its normal valuations because the rupee weakness has been the culprit for the stock to really correct, because of the foreign debt lying in the books of the company."