In an interview to CNBC-TV18, market expert SP Tulsian, shared his reading and outlook on specific stocks and sectors.
On Jet Airways Tulsian said, "You cannot expect the lenders who are accountable to the public as well as to the shareholders to throw in their Rs 1,000 crore or may be Rs 980 crore because it was the worry of its utilisation; you do not know that the plans which have been given by the management for funding will get utilised for that only.
"So, let us wait for the financial bids to come in and the whole process to get completed by may be first week of May when you will see the new partners coming in. I agree that this is a high risk high return stock but just take the situation that if you have serious players coming in which I am quite hopeful and most likely, even government is bent on seeing that some partner comes in and the airline doesn't go the fate of what we have seen in case of Kingfisher, then what will be the situation?
"The enterprise value—I am including the unsecured creditor lender and the market cap—all three put together is not more than Rs 13,000-14,000 crore and the comparable players may be like IndiGo is ruling at an EV of Rs 60,000 crore, SpiceJet at an EV of about Rs 10,000 crore, so definitely it has a value.
"However you need to keep patience, if you keep watching everyday event then you are going to get lot of ups and downs, volatility, which you will not be able to face. So, it is a high risk high return stock. I am quite hopeful and probably the situation will be different by end of May on the share price as well once we see the takeover development or the new partner coming in into the airline."
Speaking on RBL Bank Tulsian said, "RBL Bank's numbers are quite good, 35 percent growth despite the deposit growth having been at 32 percent. In fact PAT profits also for the whole FY19 have shown a rise of 35 percent, so really superb numbers."
On DCB Bank he said, "We have been keeping an extremely positive view on DCB Bank. Two banks amongst the private sector, that is Federal Bank and DCB Bank, we have been giving buy calls since it was ruling at around Rs 182 and we continue to have the positive view because of the better asset quality, because of the growth targets having set by them of doubling the loan book in the next 4-5 years.
"Apart from that sometimes you get to hear the takeover news also by HDFC Bank and all that, I won't be ruling out that possibility also. So, overall positive view on both RBL Bank as well as DCB."
On Tata Motors he said, "The present up move is just a strong hands play and probably that will get fizzled out in one or two months. Generally, when we see this kind of pattern being built, it quickly gets corrected also.
"So, I am not confident as a fundamental analyst or as an investor because if you really see the problem going forward you are not going to see the improvement in the JLR [Jaguar Land Rover] sales because the total volume or the total financial performance comprises 90 percent from their overseas operations.
"Indian operations are doing exceeding well on the CV front as well as on the PV front having introduced the new models and all that but the situation is very bad in Chinese and European geography where they have a significant presence.
"So, taking those into consideration probably I will not take a positive view and we have been taking an exit call from when the stock was ruling around Rs 210-215 couple of weeks back."
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