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market | IST

Those who wish to enter into RIL stock may take a call, says SP Tulsian

Stock market guru SP Tulsian of sptulsian.com on Tuesday said that Rs 1,550 was  a strong support level for Reliance Industries (RIL), therefore, those who wish to enter into the stock can take a call. 

Stock market guru SP Tulsian of sptulsian.com on Tuesday said that Rs 1,550 was  a strong support level for Reliance Industries (RIL), therefore, those who wish to enter into the stock can take a call.
"The stock is now ruling closer to those levels, Rs 3-5 higher, so those who wish to enter into the stock can take a call. Those who wish to buy or those who are waiting to take a call or maybe a fresh entry, Rs 1,550 looks a very good level to enter into the stock as an investor," Tulsian told CNBC-TV18.
He said that it would be prudent to book profits in NIIT Technologies at the current levels. "Even if you go by the buyback metrics and where the promoters seem to be participating, I don’t think that acceptance ratio will be rewarding for the shareholders to hold it. So better to book the profits and look for other ideas in the IT space or maybe out of the IT space probably in the financials,” he added.
On Heineken seeking to further hike stake in the United Breweries (UB) Group,  Tulsian said: “It was an interesting case. Both the partners had 37.5 percent and 37.5 percent – 74-75 percent and Heineken were very keen to raise its stake to 75 percent. Enforcement Directorate (ED) is holding about 16 percent stake in the company and 58 percent is with the two promoters, 47 percent by Heineken and 11 percent by the UB group. I won’t be surprised to see that 16 percent (of ED) to be put on the block which can be grabbed by the Heineken."
They have been very keen from day one to acquire the entire stake of 37 percent from UB Group. It was a very interesting play and they were the largest beer makers and Heineken will definitely be interested in increasing their stake and taking a commanding position,  he added.
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