Expect Rajratan Global to hit Rs 1000 by next Diwali: Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "Rajratan Global Wire must be making some non-ferrous wires, but that is wrong assumption. This is a critical auto ancillary company. I think earnings per share (EPS) for FY'17 will be closer to Rs 70 against Rs 38 what the company has posted because of the huge margin expansion, the entry barrier, the continuing margin which we have been seeing in this tire bead wire being a critical raw material.""No tire maker will shift to any other makers because this is a small value item, but very critical which holds the rim to the tyre. So, company will continue to enjoy the market share, will continue to expand the margin and if you take a call with expected EPS of closer to about Rs 70, the share is ruling at Rs 670 against all the auto ancillary stocks are ruling as high as Rs 25-30," he said."I am expecting that the share probably will reach to a level of about Rs 1,000 by next Diwali," he added.