This textile stock can be a multibagger, says market expert SP Tulsian
Excellent numbers posted by UltraTech Cement reinforces his positive view on the space going forward, said SP Tulsian of sptulsian.com
Market expert SP Tulsian is of the strong belief that Century Textiles can be a multibagger in a two year time frame. He is extremely bullish on the stock with a target of Rs 666 by March.
Tulsian of sptulsian.com is a stock market expert with more than three decades of experience. He has an acute sense of logic and is respected for his frank and forthright views.
Giving his views on the cement space, he said excellent numbers posted by UltraTech Cement reinforces his positive view on the space going forward. "The company has performed well on all parameters and even a 4 percent third quarter volume decline on YoY basis is not a negative for the stock," he said, adding that he was also upbeat on two other cement stocks - JK Cement and JK Lakshmi. " I am expecting best Q3 numbers from both," he said.
From the auto sector, they have a positive view on auto ancillary space going forward, said Tulsian. "One stock which I like is Rajratan Global Wire. The company came out with bonus issue about 3-4 months back, with 4 bonus for every 3 shares held. “It is a microcap. The stock is currently at Rs 315-320 levels is ruling at a PE multiple of 7 or 8 because of their Indonesia and India plant. If one were to keep patience for about one year, they wouldn’t be surprise to see the share moving to Rs 450 or maybe Rs 475 that is about 30 percent rise,” added Tulsian.
On Axis Bank front, he mentioned, “I am expecting the price to move to Rs 800 by March 2020. The way I got impressed with the numbers of UltraTech Cement and L&T, similar pattern is seen here. In fact, in the last 2 days the way Axis has accumulated, it is due to give a breakout. Therefore, wouldn’t be surprised to see the share moving by about 10 percent in the next couple of months hitting closer to its old 52-week highs of about Rs 820-825."
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM