Enter Coal India below Rs 350: SP Tulsian

SP Tulsian, sptulsian.com advice traders to enter in Coal India below Rs 350.

Tulsian told CNBC-TV18, “Coal India, I will look it below Rs 350, there are probably two reasons. One is the uncertainty on the amount or the quantum which will be taking the hit to the profitability of the company on account of the pooling and second, the increase on the diesel price hike, because that will reduce the profits by maybe about Rs 600-700 crore of the company and generally whenever we see the profit booking into the stock we see it getting corrected by about Rs 20-25, maybe below Rs 350 makes it an ideal entry point.”
He further added, “Zee Entertainment has been continuously, as you have said that 58% rise has already been seen in YTD and the kind of buying which we have been seeing in the stock because of the benefits the company is likely to see because of this digitization move and all sort of things, I think this trend of the up move is likely to continue. The stock got vastly rerated and one can look for a level of Rs 210 where it should take a pause and then maybe even the profit booking may come at those levels, one can take a further upside of maybe about 7-8% from hereon.”