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Last Updated : Feb 17, 2016 11:59 AM IST | Source: CNBC-TV18

Stovec Industries may test Rs 2400-2500 in 3-4 months: Tulsian

SP Tulsian of sptulsian.com is of the view that Stovec Industries may test Rs 2400-2500 in next 3-4 months.

SP Tulsian of sptulsian.com told CNBC-TV18, "Stovec Industries cater to textile and graphic printing market and is an MNC company, SPG Print of Netherland, that hold 71 percent. You will find a growth of 45 percent across the board."

"In Q4 results, Rs 47 crore turnover has come against Rs 32 crore in the same quarter last year with earnings per share (EPS) of about Rs 24 against Rs 11 in the same quarter previous year. On annualised basis, they have December ending, so for the CY'15 on consolidated basis, EPS is at Rs 105 against Rs 56 of CY'14," he said.

"We are seeing many such companies in the midcap and smallcap where we have the potential or the earnings have come so decent as the case here that it has 45 percent growth in the margins. The stock has now corrected to Rs 2,080; it is ruling at around Rs 2,080. I won’t be surprised to see the share moving to Rs 2,400-2,500 maybe in next three to four months," he added.

"If you want to take a fundamental call on Wockhardt, you need to have a horizon of 6-12 months where I am very positive on the stock."

First Published on Feb 17, 2016 11:55 am
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