SP Tulsian of sptulsian.com has a positive view on Unitech and expecst the stock to touch Rs 23-24 in next 30-45 days.
SP Tulsian of sptulsian.com told CNBC-TV18, "The bottoming out has really happened in all the real estate stocks. That is why I have been maintaining my positive view and same thing is happening with Unitech. If one really sees the monetisation of some of their assets, of the SEZ properties, they have not got factored in. About a couple of weeks back there was cancellation move by the Central Bureau of Investigation (CBI) of Chandra in the 2G scam, so that was keeping the price under check."
"Today we have seen a breakout or may be the informed buying coming in. So, I am keeping positive view. One can take a level of Rs 23-24 maybe in next 30-45 days," he said.
On October 11, Unitech closed at Rs 19.35, up Rs 1.45, or 8.10 percent.
The share touched its 52-week high Rs 40.90 and 52-week low Rs 14.65 on 15 January, 2013 and 06 August, 2013, respectively.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.