SP Tulsian of sptulsian.com is of the view that one can look at Amtek Auto with a target of Rs 62-63 in next six months.
SP Tulsian of sptulsian.com told CNBC-TV18, "One can look at Amtek Auto as the stock may be re-rated with a target of Rs 62-63 in next six months. The stock can hit 3-digits may be in the next 12-18 months."
"One can short metal stocks. Vedanta, JSW Steel, JSPL, SAIL, Hindalco and Tata Steel are pasing trough a very bad phase. This is just a technical momentum which cannot survive for a very long time. I will be going short keeping a short view on all these stocks.
At 15:21 hrs Amtek Auto was quoting at Rs 47.40, up Rs 4.00, or 9.22 percent. It has touched an intraday high of Rs 49.80 and an intraday low of Rs 42.65.
Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.
First Published on Dec 3, 2015 03:36 pm