SP Tulsian initiates buy call on Bajaj Auto, Hero Moto & Eicher Motors
Market expert SP Tulsian spoke to CNBC-TV18 about the current trends in the stocks market and shared his outlook.
Market expert SP Tulsian spoke to CNBC-TV18 about the current trends in the stocks market and shared his outlook.
Speaking about the partial cut in excise duty on aviation turbine fuel (ATF), he said, “This is not a selling opportunity and if you are an adventurous investor, I don’t think that there is any kind of risks seen because you have to take this call also that the crude cannot sustain beyond these levels after November 6-7 when the mid-term elections will get over in US and then the stands will get known of US also because if the Iran sanctions doesn’t go through and if India keeps buying from Iran, that will be seen as quite positive".
"I won’t say that that is a sole factor for the crude to get eased out. It all depends on the outcome of the results also of the mid-term in the US on November 6 and that will be a deciding factor. If you take these into accounts, you are approaching for a small holiday season where the fears are seen to be rising and that will be seen positive. Small excise cut in ATF is also seen as a positive step in that direction. So this is the right time to take plunge into all three aviation stocks,” he said.
With regards to the auto stocks, Tulsian said, “We have initiated a buy call on Bajaj Auto, Hero Motocorp and Eicher Motors for the last one week or so post seeing the sales numbers of the month of September".
“We have been liking Zee Entertainment in the last couple of weeks or so. On Monday, I have said that ahead of the numbers if you want to play safe, one can wait to see the results because nothing seems disappointing for Q1 numbers and along with Q2, the management commentary will be very important and that will give the direction. On a risk reward basis, share seems to have bottomed out and we are seeing good upside potential on the stock price from hereon with a view of next 8-10 months,” said Tulsian.
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