Buy Bharati Shipyard, says SP Tulsian

Buy Bharati Shipyard, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, "Due to the rerating of all the shipyard stocks and considerable appreciation having been seen in the shipyard stocks, Bharati Shipyard is probably the only company which is languishing at very pathetic valuations. If you see, company has 6 shipyards plus they have agreed to acquire majority stake in 3 more shipyards so in aggregate they will be having 9 operational shipyards in the country plus they are holding close to about 50% stake in Great Offshore."

He further added, "The combined market cap of Bharati Shipyard and Great Offshore is less than Rs 900 crore and that makes it very attractive buy. In fact SCI has hinted that they will be acquiring stake in this company as well. The stock looks very good with a view of 6 to 12 months where it can rise to Rs 160-175 but the day target has been given at Rs 114 with a stop loss of Rs 104."