Suzlon Energy may hit Rs 11, says SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "I do not think that one should really look at Suzlon Energy kind of stocks. We should not get too much carried away by these upper circuits and all that. If you really take the broad range the stock has been moving between Rs 9-11.”

He further added, “If you are really looking from the fundamental point of view and when you see the quarterly numbers posted by the company in these last 3 or 4 quarters, I do not think that anyone will really be having courage to buy this stock. But if you are fascinated or attracted by these upper circuits and all kind of things look to play in a range of Rs 9-11; maybe Rs 9 is support and Rs 11 is the resistance.”
“If you buy today at Rs 9.90 maybe within 20-25 days you are going to see a price of Rs 11. Exit at that point of time and again look to buy the stock maybe at a lower level of below Rs 10 or something like that. Alternatively if you have a 3-4 year horizon, I want to bet on this stock because you cannot rule out the fundamentals of the company because of the REpower which is the 100 percent subsidiary of the company, which is a very pricey asset and having tremendous value,” he added.
“The turnaround is bound to happen, but that will take a very long time and I do not think that anyone really has that kind of patience. So you need to choose yourself that you will place yourself in which category. You want to buy now and look for Rs 11 or you have the conviction to buy this stock at sub-Rs 10 levels and have a view of about 3-4-5 years.”