Tulsian told CNBC-TV18, “Wockhardt has posted good results. If you exclude the exceptional loss of about Rs 450 crore comprising on 2-3 heads, the company has posted good numbers because if you see the EBITDA margin has been on improvement but the kind of run up which we have seen into the stock price, it used to rule at below Rs 300 in the fag-end of January 2012 about three-four months when the stock was recommended by me near Rs 300.”
He further added, “It is difficult to accept now or to give a buy call on the stock at Rs 700 because generally the stock has been remaining quite strong if you see whole of the month of May, it has not corrected below Rs 650 and swiftly it has moved back to Rs 710-715 level but the kind of volatility, which we see, I won’t be surprised to see share price again falling back maybe to about Rs 600-620 where the buying can be initiated but yes, the results have been very good of Q4 except for the exceptional loss of about Rs 450 crore.”
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