Tulsian told CNBC-TV18, "United Spirits- we have seen very good volume today. As of now till Rs 230 we have seen almost double the volume alone on NSE we have seen 35-36 lakh shares have been traded while we see the average volume of about 15 lakh shares. So may be buying is happening because Diageo cannot buy the stock from the open market now because the open offer is yet to get completed. If they make any buying from the open market they have to increase the open offer price also."
He further added, "I have been keeping my positive stance, I remember of having recommended this stock at Rs 450 on New Year day last year in 2012 and I have been maintaining my positive view because once the Diageo comes in definitely the debt reduction will happen. The company is sitting on a debt of about Rs 4000-4500 crore. If that will get reduced and the improvement in the margin that is what we have been seeing for last couple of quarters. I am not too concerned about the day to day fluctuations because we have seen the stock correcting to Rs 1700 plus in last one month on the fear that Diageo may not come, the deal may not go through. Bankers are selling the stock in the open market and all sorts of things. So these are all the trading behaviour but if somebody can keep a view of couple of years I won't be surprised to see the price of Rs 2800-3000. In my view this seems to be the best stock amongst FMCG space but I won't advice to buy now at these levels because the stock has already run up by about Rs 300 in last couple of days. May be one can wait for a dip, look to enter into the stock somewhere close to Rs 2000 or so."
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