Tulsian told CNBC-TV18, “On Tata Power I have said yesterday also that probably looking to the results which are seen to be quite dull largely because of its Mundra Ultra Mega Power projects. Probably one can look only after results and it is better if it falls to maybe at about Rs 85-86 because swiftly we have been seeing the positive view remaining on Tata Power and again the moment it falls to those levels may be after some event and a base is discovered one can look to enter into the stock at those levels.”
He further added, “Sesa Goa, a while back we have discussed that in fact rupee weakening is seen quite positive for the non ferrous metal stocks and Sesa Goa is since having the restructuring move of merger of the Sterlite industries with Sesa Goa by the virtue of which they will be acquiring the stake in Hindusthan Zinc as well as in Balco that should been seen positive for them. Even in of their core operations of the iron ore business and that is likely to perform well so taking that call also maybe a fall of about 2-3% from hereon makes it a good buy at those levels.”
“We have been seeing weakness in all the ADAG stocks just a day before because of the optically better results seen for the Reliance Capital though I was not very happy because if you see the finance and investment sector having posted an EBIT of Rs 360 crore against the Rs 370 crore for whole of the year. We have seen some buying interest coming back into the stocks which were largely in fact in my view have been on account of the short covering because the way they have all been correcting for last whole of the May series. I think the same trend is likely to continue because the results of Reliance Infra, Reliance Communications, Reliance Power and other stocks are due. I don’t think that any kind of excitement or the positive surprises will be seen from all three companies. So, negative view till the expiry on all the stocks of ADAG.”
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